According to the results of the year, the Russian economy may increase by 12 percent, which is an acceptable forecast since 1994, Bloomberg reported on Tuesday, May 10, citing an external forecast of the Russian Finance Ministry. According to the interlocutor of the agency, if the forecast comes true, this fall will negate the growth of the Russian economy over the past ten years.
In turn, the Ministry of Finance of the Russian Federation, in response to the publication of Bloomberg, said that the measures taken in connection with the sharp consequences “stop the negative consequences of the emergence and sustainable development of the economy.”
The Central Bank of the Russian Federation expects Russia’s GDP to fall by 8-10 percent in 2022. The Ministry of Economy of the country predicts GDP growth by 8.8 percent in the baseline and by 12.4 percent under the conservative scenario. According to World Bank forecasts, the volume of gross domestic product in Russia in 2022 will decrease by 11 percent.
Analysts at S&P Global Market Intelligence believe that against the background of the events introduced against Russia due to the invasion of Ukraine, the economy is likely to recover to the level of 2021 in 10 years.
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Putin’s war in Ukraine and its consequences around the world
Going to the road shop has become
In Germany, consumers resent the natural cost of living. Russia’s invasion of Ukraine and challenges to the call of the West against the Russian Federation. The last time the level of supply in the country, repeated from March 2022, was observed in Germany in 1981. The federal government wants to impose an embargo on the supply of coal from the Russian Federation within months, but is slow to ban gas and oil imports.
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Putin’s war in Ukraine and its consequences around the world
Lines at gas stations in Kenya
The consequences of the war in listening and in Nairobi: here, long-term discharges at gas stations are lengthened. Fuel is becoming scarce and expensive. The food crisis is exacerbating the situation.
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Putin’s war in Ukraine and its consequences around the world
Rising Bread Prices in Turkey
Russia is one of the most important wheat producers in the world. One of the consequences of the export ban imposed by the Russian Federation was the rise in bread prices in Turkey. This is a clear example of how breaks in connection chains are detected. Ukraine is also among the exporters of wheat. However, under conditions of war, cargoes of grain from this country are not lost.
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Putin’s war in Ukraine and its consequences around the world
Rise in wheat prices in Iraq
This worker stacks sacks of flour at a wholesale market in Baghdad – Jamila. And in Iraq, the price of wheat rose sharply after Russia’s invasion of Ukraine: after all, both warring countries account for at least 30 percent of the countries of international trade in this grain. Iraq is still neutral, but posters expressing support for Putin are now banned in the country.
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Putin’s war in Ukraine and its consequences around the world
Protests in Peru
The photo shows the unrest in the capital of Peru, Lima. The protests there, which have been ongoing since early April, are directed, in particular, against the rise in prices for food, fuel and foodstuffs, exacerbated by the war in Ukraine. On April 5, President Pedro Castillo was forced to impose a curfew, but canceled it a day later, after which the protests resumed.
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Putin’s war in Ukraine and its consequences around the world
Crisis in Sri Lanka
Sri Lanka is also in turmoil, with people expressing their dissatisfaction with the rising cost of living, fuel shortages and energy consumption. In early April, protesters even stormed the residence of President Gotabai Rajapaksa. The last open report on the use of resources in India and China for the use in the supply of food resources.
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Putin’s war in Ukraine and its consequences around the world
Scots cause food and heating prices to rise
Scotland is also seeing cases of rising food and energy prices. In protest against the cost of living, Brexit has caused growth in many countries of life. The war in Ukraine is expected to exacerbate this effect.
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Putin’s war in Ukraine and its consequences around the world
How much is this fish now?
The British fear for their favorite national dish. About 380 million servings of fish and chips (Fish & Chips) are eaten annually in the kingdom. However, due to the current price of white fish, vegetable oil and energy. In 2022, inflation in the UK compared to the same month last year was 6.2%.
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Putin’s war in Ukraine and its consequences around the world
War as a chance for the economy?
A trader in Ibafo, Nigeria packages flour for resale. Nigeria has long wanted to reduce the need for food imports and make its share more sustainable in other countries as well. Can the war be regarded as a chance for the economy? Aliko Dangote, Nigeria’s richest man, has opened a fertilizer plant in Australia and is now hoping for demand.
Author: Claudia Den