The world economy is shaking: World Bank President David Malpas today (Tuesday) addressed the state of the world economy following the ongoing war in Ukraine and said that in his estimation, it is difficult to see how the countries of the world will avoid a sweeping recession in the coming year.
"At this point, when looking at global GDP data, it's hard to see how we can avoid a global recession.
The possibility of doubling fuel prices alone is the cause of the crisis and a continuing recession, "said Malpas
. Last month, the World Bank lowered its expected growth figures for 2022 by almost a full percentage to 3.2%.
And called on our Western countries to reduce their dependence on Moscow-made energy. "Rising energy prices are already burdening Germany's economy.
"Poor countries are already affected by it in terms of fertilizer, grain and maritime transportation prices," the senior official said.
The British Minister of Defense, Ben Wallace, called on Moscow to allow the export of grain from Ukraine but stressed that his country opposes the removal of sanctions in exchange for the export of grain from Ukrainian ports.
"Russia must do the right thing and in the spirit of humanity allow a corridor beyond the grains of the Black Sea ports," Wallace said during a meeting with Spanish Defense Minister Margarita Robles.
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