The war in Ukraine cost the whole world $ 1.6 trillion last year.
This is evidenced by the calculations of the Cologne Institute of Economic Research IW.
Expandering from a report that has not yet been published, publishes the Rheinische Post.
According to the author of the report Michael Gremlingen, the economic indicators in 2022 were $ 1.6 trillion lower than they would be without a war in Ukraine.
This year, the consequences of the conflict can cost the global economy $ 1 trillion, the report said.
The representatives of the institute as the basis for their calculations took forecasts of the International Monetary Fund, which compares the actual economic indicators for 2022 with forecasts from 2021 – that is, before the war.
IW writes that the fighting led to a reduction in production, violated supplies, contributed to an increase in energy prices. This, in turn, provoked a jump in inflation and a decrease in purchasing power.