In its first forecast since the outbreak of war in Ukraine, the European Bank for Reconstruction and Development identifies the impact of Russian aggression on the countries in which it operates. The EBRD has cut its growth forecast for 2022 for the regions where it operates by more than half – to 1.7 per cent, down by 2.5 per cent on its previous forecast.
The war and ensuing sanctions against Russia and Belarus will hit not only Ukraine and Russia, but also the Caucasus countries.
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