Media: Ukrainian crisis has already cost the global economy $1.6 trillion

Losses to the world economy from the Ukrainian crisis have already exceeded $1.6 trillion, N-TV wrote, citing a study of the Cologne Institute of German Economics. In addition, the global economy is suffering losses because of the sharp increase in energy prices.

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According to the publication, the conflict in Ukraine has led to the disruption of the global system of supply chains and provoked the sharp rise in energy prices and global inflation. According to Michael Gromling, one of the authors of the study, the cost to global GDP will also remain high in 2023.

Global inflation, in turn, has reduced the purchasing power of consumers. Gromling said that due to the uncertain economic outlook, rising financial costs and the rising cost of investment goods companies around the world are abandoning new investments.

The overall loss to the global economy in 2023 should be slightly less than in 2022. Experts believe that in 2023 the situation in the energy and resources markets will become less tense. At the same time, the publication notes, the losses of developing countries in 2023 will be even higher than in the previous year.

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