Putin’s War Set To Cost Europe Twice As Much As COVID In 2020

Aside from the tragic human casualties and infrastructure devastation, Ukraine is facing a massive economic crisis that the World Bank estimates will shrink the country’s economy by 45.1% this year. With Putin’s war already succeeding in shutting down half of Ukraine’s businesses, the World Bank’s new estimate is a serious blow when compared with the pre-war forecast of 3% growth. In a recent report, Anna Bjerde, World Bank Vice President for the Europe and Central Asia region, said the magnitude of the contraction will…