As a result of Russia's invasion of Ukraine and energy wars, global GDP will lose 0.6% of growth next year, developing countries in Europe and Central Asia will lose more than 1%, and Russian GDP will shrink by 3.6%, the World Bank estimates.
The West is paying for the war in Ukraine by slowing down GDP to the point of threatening recession, high inflation, rising debt prices and cold homes, while the Russian economy has not collapsed under the blows of sanctions, World Bank experts admit. The whole world is suffering from the war and the associated energy crisis: the estimate for global economic growth in 2023 has been lowered from 3% in June to 2.4%.