According to the German Chancellor, the consequences of these problems will affect not only Russia and Ukraine, they are already being observed in the world.
The difficulties that have arisen in the global economy amid the coronavirus pandemic will worsen due to the situation in Ukraine, German Chancellor Olaf Scholz said at an election event in Essen, DPA reports.
According to him, “all the difficulties that the world economy is facing today, and which were already quite large due to the coronavirus pandemic”…>, now getting even bigger». The consequences of these problems will be visible far beyond the borders of Russia and Ukraine, they can be seen all over the world right now, five weeks after the start of the special operation, the chancellor believes.
Scholz called for an early end to the fighting. He called the sanctions of Western countries against Russia “effective measures” and expressed the opinion that the West acted quickly and cohesively in the current situation.
At the end of March, Moody’s experts published a report on how the restrictions imposed against Russia will affect the economy of the CIS countries (available to RBC). They warned of an increase in unemployment and a decrease in the volume of money transfers from Russia (this income item is important for Central Asian countries). Experts also reported problems with the transit of goods from the CIS through Russia, which most affected the economy of Kazakhstan. In conditions of rising inflation, these problemsthey will slow down GDP growth throughout the post-Soviet space, Moody’s concluded. In turn, experts from Renaissance Capital have adjusted forecasts for GDP growth in 2022 for Russia’s partner countries: in the case of Kazakhstan, this indicator fell from 5.3 to 3 to 4%, Uzbekistan from 6 to 4 to 5%.. Armenia’s projected GDP growth decreased from 5.5% to 1%. The anti-Russian sanctions, RBC wrote, will also affect the business of Central Asian countries due to the linking of logistics operations to Russia.
After the start of the Russian special operation in Ukraine, energy prices rose sharply on the European market. On the eve of April 2, protests were held in the UK due to a sharp increase in electricity prices. The day before, the British authorities decided to increase the price threshold for gas and electricity by 54%. The newspaper linked what is happening with the residual impact of the pandemic and the events in Ukraine.
On the same day, Polish Prime Minister Mateusz Morawiecki, during a meeting with the President of the European Parliament, Roberta Metsola, admitted that Western sanctions against Russia have an ineffective effect on its economy. As an explanation, he drew attention to the growth of the ruble exchange rate.
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