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War in Ukraine could provoke global recession, - head of World Bank Malpas
World Bank President David Malpas does not rule out the possibility of a recession in the world economy due to the war in Ukraine. He believes the impact will be "very negative".
This was reported by Censor.NET with reference to Reuters.
Malpas stressed that the crisis will be felt not only in Russia and Ukraine but also in other countries.
"As we look at world GDP, we can't see how we can avoid a recession," he said.
He noted that disruptions in grain supplies, in particular, will hit Lebanon, which has no reserves of its own, and the slowdown in the agricultural sector is already being felt by other countries.
In addition, cuts in Russian energy supplies, according to Malpas, could slow the economy in the EU.
