No Result
View All Result
Monday, July 28, 2025
MM News
اردو
  • Home
  • Latest News
  • National
  • Dramas
  • Showbiz
    File Photo

    Alizeh Shah claims she is receiving death threats from fellow actress

    (Image: cinebuster.in)

    Who is Ruchi Gujjar and what did she do?

    Chal Mera Putt 4

    Trailer released for Chal Mera Putt 4 featuring Pakistani stars

    Gen V

    Gen V returns: What shocking truths are unveiled in the season 2 trailer?

    Image: Dunya News

    Does Dua Zahra love Babar Azam? The actress shares what’s in her heart

    image: Screengrab

    What is controversial about Benazir Bhutto in Indian film Dhurandhar that angers Pakistanis?

  • Thought Box
  • Business
  • Opinions
  • Technology
  • The Other Side
MM News
  • Home
  • Latest News
  • National
  • Dramas
  • Showbiz
    File Photo

    Alizeh Shah claims she is receiving death threats from fellow actress

    (Image: cinebuster.in)

    Who is Ruchi Gujjar and what did she do?

    Chal Mera Putt 4

    Trailer released for Chal Mera Putt 4 featuring Pakistani stars

    Gen V

    Gen V returns: What shocking truths are unveiled in the season 2 trailer?

    Image: Dunya News

    Does Dua Zahra love Babar Azam? The actress shares what’s in her heart

    image: Screengrab

    What is controversial about Benazir Bhutto in Indian film Dhurandhar that angers Pakistanis?

  • Thought Box
  • Business
  • Opinions
  • Technology
  • The Other Side
No Result
View All Result
No Result
View All Result
MM News
اردو
  • Latest
  • Showbiz
  • Thought Box
  • Business & Stock
  • Opinions
  • Technology
  • The Other Side-Pakistan
Home World

Ukraine economy to shrink 45% over Russian invasion: World Bank

MM News Staff by MM News Staff
April 12, 2022
ukraine

ukraine

WASHINGTON: The World Bank says Ukraine’s economy will shrink by 45.1% this year because of Russia’s invasion, which has shut down half of the country’s businesses, choked off imports and exports, and damaged a vast amount of critical infrastructure.

In a report, the World Bank said unprecedented financial and export sanctions imposed by Western allies in response to the war are plunging Russia into a deep recession, lopping off more than a tenth of its economic growth.

The war is set to inflict twice the amount of economic damage across Europe and Central Asia that the COVID-19 pandemic, the Washington-based lender said in its ‘War in the Region’ economic report. Besides Ukraine, it focuses on central and Eastern Europe, former Soviet republics, Balkan countries and Turkey.

“The magnitude of the humanitarian crisis unleashed by the war is staggering,” said Anna Bjerde,World Bank’s vice president for the Europe and Central Asia region. “The Russian invasion is delivering a massive blow to Ukraine’s economy and it has inflicted enormous damage to infrastructure.”

The report said economic activity is impossible in “large swaths of areas” in Ukraine because infrastructure like roads, bridges, ports and train tracks have been destroyed.

Ukraine plays a major role as a global supplier of agricultural exports like wheat but planting and harvesting have been disrupted by the war, the report said. The war has cut off access to the Black Sea, a key route for exports, including 90% of Ukraine’s grain shipments, it said.

‘The war is having a devastating impact on human life and causing economic destruction in both countries, and will lead to significant economic losses in the Europe and Central Asia region and the rest of the world,” the report said.

READ MORE: Global food prices reach ‘new all-time high’ over Ukraine war: UN agency

Belarus, Kyrgyzstan, Moldova and Tajikistan also are forecast to slide into recession this year, while economic growth projections have been cut for the region’s other economies because of the war’s ripple effects.

The World Bank said the humanitarian catastrophe is the biggest initial shockwave from the war and will likely be its most enduring legacy, as the wave of refugees fleeing Ukraine is “anticipated to dwarf previous crises.”

More than 4 million people have fled Ukraine, with more than half going to Poland and others heading to countries like Moldova, Romania and Hungary. An additional 6.5 million have been displaced internally. Those numbers are expected to swell as the war drags on, the World Bank said.

The report issued a stark warning that “the war will increase poverty in the region due to the recession and food price inflation. Beyond the humanitarian crisis, the lender said “the war is also delivering a sizable blow to the global economy through multiple channels.”

The war and sanctions have scrambled global trade routes and pushed up shipping and insurance costs, “which magnifies strains on global value chains,” the report said, noting that industries getting hit include food, automobiles, construction, petrochemicals and transport.

ShareTweetSendShare
Previous Post

Lettergate: CJP receives copy of alleged threat letter

Next Post

Will focus on electoral reforms before elections: PM Shehbaz

Related Stories

Cobra is one of the most venomous snakes in the world.
World

Toddler kills cobra with teeth in India’s Bihar

July 27, 2025
The ship’s interception comes as Israel faces mounting international criticism over the worsening humanitarian situation in Gaza
(Image: aa.com.tr)
World

Israel seizes Gaza-bound aid ship ‘Handala’

July 27, 2025
Shweta Singh
Top News

What shocking revelations did Shweta Singh’s suicide note contain?

July 27, 2025
Gaza Heartbreaking
Top News

Devastating hunger: US senator calls Gaza crisis heartbreaking, urges more aid

July 27, 2025
Online
Top News

Italian aid Ship ‘Handala’ nears Gaza waters

July 26, 2025
Online
World

UK faces mounting pressure to recognize Palestinian State following France’s bold move

July 26, 2025
Image: The News
World

8 killed as terrorists attack Iran’s judicial complex in Zahedan

July 26, 2025
Image: Business Stardard
World

Saudi Arabia allows foreigners to buy property in the kingdom

July 26, 2025
File photo
World

Qatar visa center warns public against fraud

July 25, 2025
Hamas. File photo
World

Trump claims Hamas not serious about ceasefire

July 25, 2025
Next Post
Shehbaz Sharif said Pakistan was faced with serious economic challenges. Source: APP.

Will focus on electoral reforms before elections: PM Shehbaz

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Trending Stories

OpenAI CEO Sam Altman (File Photo)
Technology

Don’t share your deepest secrets with ChatGPT, warns Sam Altman

by MM News Staff
July 27, 2025
File Photo
Daily Buzz

Alizeh Shah claims she is receiving death threats from fellow actress

by MM News Staff
July 27, 2025
(Representational Image)
Crime

Two fake doctors arrested after performing surgery on woman in Bahawalnagar

by MM News Staff
July 27, 2025
(Image: cinebuster.in)
Film & TV

Who is Ruchi Gujjar and what did she do?

by MM News Staff
July 27, 2025
National

Karachi residents pay the highest price for flour in Pakistan

by MM News Staff
July 27, 2025

Opinion

nadeem moulvi
From Sects to Sunnah
July 15, 2025
- Nadeem Moulvi
Munir-Ahmed
Portugal and Pakistan: Building a Bilateral Bridge in a Fractured World
June 29, 2025
- Munir Ahmed
munir ahmed oped
A Peace Prize for Betrayals: Rethinking Pakistan’s Strategic Alliances
June 28, 2025
- Munir Ahmed
No posts found
See all

Weather Updates

Rescue personnel evacuate villagers by boat from a flooded village following heavy rains in the Taunsa district of Punjab on July 16, 2025. — AFP
National

Thousands displaced, crops destroyed as floods wreak havoc in Punjab

by MM News Staff
July 27, 2025

Floods have caused widespread devastation across several cities in Punjab, damaging crops and leaving...

File photo

KP issues travel advisory amid monsoon showers

July 26, 2025
Image: file photo

Weather updates for Islamabad, other parts of country

July 26, 2025
File Photo

Another monsoon spell to begin in Pakistan from July 28

July 25, 2025
See all

Prices

National

Karachi residents pay the highest price for flour in Pakistan

by MM News Staff
July 27, 2025

Residents of Karachi are compelled to purchase the costliest flour in Pakistan, with a...

representative image

Gold prices in Pakistan today- Sunday 27 July 2026

July 27, 2025
representative image

Gold prices in Pakistan today- Saturday 26 July 2026

July 26, 2025
File Photo

Govt to deregulate electricity prices under new competitive energy market policy

July 25, 2025
See all

Transport News

Chakwal
Crime

Tragic bus crash in Chakwal: 6 dead, 24 injured near Dhok Sial

by MM News Staff
July 27, 2025

A bus fell into a ravine near Dhok Sial on the motorway in Chakwal,...

Charged Parking

Has the Sindh government put an end to parking fee extortion?

July 25, 2025

E-Taxi scheme launch date unveiled in Punjab

July 24, 2025
(File Photo)

Air Arabia Abu Dhabi expands operations in Pakistan with new Faisalabad, Multan flights

July 24, 2025
See all

MM Digital (Pvt.) Ltd.

MM News is a subsidiary of the MM Group of Companies. It was established in 2019 with the aim of providing people of Pakistan access to unbiased information. Contact Details: 03200201537

Quick Links

  • Home
  • Advertise
  • MM News Urdu
  • The Other Side-Pakistan
  • Contact Us
  • Privacy Policy

Top Pages

  • Latest News
  • Showbiz
  • OP-ED
  • Technology
No Result
View All Result
  • Latest News
  • Showbiz
  • Thought Box
  • Business
  • Opinions
  • Technology

© Copyright 2024 MMNews - All Rights Reserved.