Geostrategic Business Intelligence Trends (GeoBITs)
October 7, 2022
Russia & Europe
The World Bank assesses that the effects of Russia’s invasion of Ukraine on Ukraine’s economy are quite grim and are eight times worse than the effects on Russia’s economy. Ukraine’s economy is expected to shrink by 35% this year due to the war with Russia, while Russia’s economy is expected to contract only by 4.5% of GDP.