Ukraine is the reason for this… Growth of the world economy is declining, as in 2008-2009.

Economists expect the global economy to grow by 1.2 percent in 2023, the same pace it achieved during the 2008-2009 financial crisis, due to this slowdown as a result of the conflict in Ukraine.

The Institute of International Finance projected these rates after a study they conducted and said the current scenario would continue until at least 2024.

“Because of this, the European economy, as the study shows, will shrink by about 2 percent. At the same time, the US economy (GDP) will grow by 1 percent. While the countries involved in the conflict may be in a better position.”

For example, according to the study, “GDP of Latin American countries as a whole could grow by 1.2 percent.”

It is known that after the announcement of the start of the special operation on February 24, the West imposed large-scale sanctions against Russia.

Russian President Vladimir Putin said on March 16 that the Western sanctions policy against Moscow bears all the signs of aggression.

Source: TASS