Russia's war to shrink Ukraine economy 45%, World Bank says

[Omaha Steve]

Source: AP

LONDON (AP) — The World Bank says Ukraine’s economy will shrink by 45.1% this year because of Russia’s invasion, which has shut down half of the country’s businesses, choked off imports and exports, and damaged a vast amount of critical infrastructure.

Unprecedented sanctions imposed by Western allies in response to the war, meanwhile, are plunging Russia into a deep recession, lopping off more than a tenth of its economic growth, the World Bank said in a report Sunday.

The war is set to inflict twice the amount of economic damage across Europe and Central Asia that the COVID-19 pandemic did, the Washington-based lender said in its “War in the Region” economic report.

“The magnitude of the humanitarian crisis unleashed by the war is staggering,” said Anna Bjerde, the World Bank’s vice president for the Europe and Central Asia region. “The Russian invasion is delivering a massive blow to Ukraine’s economy and it has inflicted enormous damage to infrastructure.”



A young man pushes a wheelbarrow in front of a destroyed apartment building in the town of Borodyanka, Ukraine, on Sunday, April 10, 2022. (AP Photo/Petros Giannakouris)


Read more: https://apnews.com/article/russia-ukraine-business-asia-central-asia-economy-e5ec61c5ef137def618aa0c26836c122

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[Sherman A1]

1. The Russian economy in a full blown Depression

Would be fine with me. Then gutted to pay off reparations to Ukraine for this atrocious war would be okay as well.

[lagomorph777]

10. Shrink Putin's economy by 75%.

Make them pay until they make him stop.

[Bernardo de La Paz]

2. Ukraine will bounce back much faster than Russia, a couple of years versus decades. . . . nt

[former9thward]

8. There is no evidence of that.

The ruble is back to pre war levels.

EU sending Putin £673m a DAY as Russia's economy 'returns to pre-war' level

THE EU is sending up to €800million (£673million) a day to Russia, as Moscow's economy appears to rebound.EU sending Putin £673m a DAY as Russia's economy 'returns to pre-war' level

https://www.express.co.uk/news/science/1589592/eu-putin-gas-oil-russia-energy-economy-pre-war-level-ukraine-invasion

[Bernardo de La Paz]

12. The ruble is being artificially propped up with 18% interest rates while the West is around 2%

Russia's currency controls are also propping up the ruble temporarily, but they in the medium and long term are counter-productive to getting revenue from exports.

Further, oil and gas exports will decline as the EU secures alternative sources before long.

[Javaman]

3. but after the war, let's see whose economy bounces back quicker...

Ukraines or russias. my money is certainly Ukraine

[ck4829]

4. Time to kick Russia out of G20 for this

[BonnieJW]

5. But Ukraine

will get financial help to rebuild and restart businesses, while Russia will be on its own. I don't think it will take long for Ukraine to come back at all.

[former9thward]

9. Its not on its own.

It has strong economic partners like China, India, and Iran. The majority of the world is not participating in the economic sanctions.

[IronLionZion]

6. Ukraine is a good investment to help them rebuild their country

I doubt anyone is going to help Russia. Those sanctions need to last a while to be punitive.

[turbinetree]

7. They were making rocket motors for space launches

https://www.space.com/ukraine-mighty-space-industry-faces-obliteration

[lagomorph777]

11. Their skills and products will be more in demand than ever.

The space industry has really been taking off. Bezos is supposed to be the next big rocket engine supplier, but he seems to be completely blowing it. Ukraine's engines will be in demand as soon as they can get started again.

[turbinetree]

15. This is correct.....this will really help them get back on there feet economically

[Torchlight]

13. I think the Russian economy will collapse before Ukraine's will to fight does.

In Moscow, annual inflation has jumped over 13% since Feb., Russia has entered into default territory with its credit rating, sanctions have devastated the country economically, and the ruble has taken a beating, losing 75% of its Jan. value.

Moscow has attempted to sell its own foreign currency holdings, in the hopes that this would help support the ruble, but six weeks into the conflict has shown that not to be the case.

Modern technology has rendered successful conquest and occupation of a country by a foreign force impenetrably expensive if its citizens choose to resist. Every crater in Ukrainian soil is a hole in a Russian budget.

[Yo_Mama_Been_Loggin]

14. If my economy goes bad yours should too - Vlady Pooty Poot

[roamer65]

16. Start embargoing until we get 45 percent contraction in the Orc economy.

Fair is fair.