According to a study by the German Economic Institute, the war in Ukraine cost the global economy well over 1.6 trillion US dollars (1.5 trillion euros) last year. “According to an IW estimate, global economic output in 2022 is likely to be well over 1,600 billion US dollars lower than it would have been without the Russian invasion of Ukraine,” according to a report by the “Rheinische Post”. (Tuesday) in the study. In 2023, global production losses could therefore amount to around another trillion dollars.
According to the newspaper, the autumn forecasts of the International Monetary Fund served as the basis for calculation and estimation. For this purpose, the development of the gross domestic product in 2022 and the forecast for 2023 were compared with the originally expected development without the Ukraine war at the end of 2021. The newspaper quoted the study as saying that the war had led to supply and production disruptions worldwide. In addition, energy prices have skyrocketed. Inflation has risen sharply everywhere and has reduced purchasing power.
