(ANSA) - NEW YORK, APRIL 19 - The war is sinking the economy of Ukraine and Russia.
According to IMF estimates, after + 4.7% in 2021, Russian GDP will contract this year by 8.5% and the next by 2.3%, in what is a sharp beat compared to previous estimates.
In fact, in January the Fund had forecast growth of 2.8% for Russia this year and 2.1% next year.
A much more severe contraction will be experienced in Ukraine, which in 2022 will see GDP fall by 35%.
"Even if the conflict ends soon, the loss of human life, the destruction and flight of citizens will severely limit economic activity for years."
(HANDLE).