The economies of Russia and Ukraine will contract by 10 percent and 20 percent respectively this year as the war between the two countries causes “the greatest supply shock” for 50 years, the European development bank, EBRD, said on Thursday. “With so much uncertainty, the bank intends to produce a further forecast in the next couple of months, taking into …
The European Bank for Reconstruction and Development says war has triggered ‘greatest supply shock’ in 50 years. In its first economic forecast since Russia’s invasion on February 24, the London-based lender warned on Thursday that the war had triggered “the greatest supply shock since at least the early 1970s” and would have a severe effect on economies far beyond the …
