OECD predicts impact of war in Ukraine on world economy

International News
| 10 Oct 2022

In a report published by the Organization for Economic Co-operation and Development (OECD), the effects of the war between Russia and Ukraine delayed the growth of the gross world product. Projections now predict a growth of $2.8 trillion less compared to the figure estimated in December 2021, before the start of the war.

Even before the war, the world economy was already growing at a slow pace, still in the process of recovering from the post-pandemic effects, and the perspective is that with the war between Russia and Ukraine, growth is not very promising. During the first half of 2022, many economies faced the highest inflation since 1980.

In addition to high inflation, the offensive, which began in February of this year, increased the price of energy, food, and fuel. The impact is being felt mainly in European countries, closer to the confrontation zone, which will experience a shortage of fuel, especially gas. Within Europe, Germany will be one of the most affected countries.

For Brazil, the OECD estimates GDP growth of only 0.8%, 0.4% less than forecast in June.

See the full report on the OECD website.