Sunday, August 14, 2022
Google search engine
HomeEconomyRussia gas flow stop could erase post-COVID recovery across EBRD region, report...

Russia gas flow stop could erase post-COVID recovery across EBRD region, report says

The headquarter of the European Bank for Reconstruction and Development (EBRD) is seen in London, Britain, November 22, Britain 2016. REUTERS/Stefan Wermuth/

Register now for FREE unlimited access to Reuters.com

May 10 (Reuters) – An abrupt halt of Russian gas exports could see economies in emerging Europe, central Asia and north Africa slide back to pre-pandemic GDP levels, the European Bank for Reconstruction and Development (EBRD) warned on Tuesday.

Many countries in the EBRD’s region of operation, which covers some 40 economies stretching from Mongolia to Slovenia and Tunisia, depend on Russian gas and a sudden ceasing of supplies would lower output per capita by 2.3% this year and 2% in 2023, according to the lender’s latest report.

“Europe is discussing to stop purchases of hydrocarbons from Russia,” chief economist Beata Javorcik told Reuters. “There is also the possibility that Russia would stop supplying its gas.”

Register now…

Read more…

RELATED ARTICLES
- Advertisment -
Google search engine

Latest Posts