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HomeTourismHow the war in Ukraine affects just everyone | Daily Express Online

How the war in Ukraine affects just everyone | Daily Express Online

IN today’s hyper-connected world, it’s no surprise that the war in Ukraine is being felt across the globe. 

The war has upended the fragile economic recovery from the Covid-19 pandemic, not only triggering a devastating humanitarian crisis but also increasing food and commodity prices and globally exacerbating inflationary pressures.

A new forecast released this week by the United Nations Department of Economic and Social Affairs shows how far global prospects have declined. 

According to the World Economic Situation and Prospects (WESP), as of mid-2022, the global economy is now projected to grow by only 3.1pc in 2022, down from the 4pc growth forecast released in January. 

Global inflation is projected to increase to 6.7pc in 2022, more than twice the average of 2.9pc during 2010-2020, with sharp rises in food and energy prices.

Why is this happening? Rising geopolitical and economic uncertainties are dampening business…

Read more…

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