A new report by the European Bank for Reconstruction and Development (EBRD) forecasted that Ukraine’s economy would shrink by one-fifth in 2022, as the ongoing invasion by Russia continues to take its toll on the beleaguered Eastern European nation.
On Wednesday, the London-based EBRD, a developmental investment bank with an emphasis on the former Soviet bloc, released its first forecasts since the beginning of the current Russo-Ukrainian war, predicting short-term economic decline for both Russia and Ukraine, with the latter suffering more severely.
