#Wittels- Posted March 15, 2022 Posted March 15, 2022 UKRAINE WAR Washington, March 14 (EFE) .- Ukraine's economy could fall by up to 35% this year, due to mass migration and the destruction of its productive capacity, if the Russian invasion becomes a "protracted conflict", losing this Monday the International Monetary Fund (IMF). The international organization collects these forecasts in its new report on the state of the Ukrainian economy, in which it recognizes the "enormous uncertainty". “The (Ukrainian) economy is estimated to enter a deep recession this year,” the document said, citing the sharp contraction in demand and the completion of supply chains, among other things. In the event that the war ends in the short term, the Fund's estimates point, "at least", to a 10% drop in gross domestic product (GDP) this year. However, beware that with a "protracted conflict" the annual contraction in Ukraine could be much higher, between 25% and 35%, a range already seen in other countries immersed in recent wars such as Syria or Yemen. “A growing loss of physical capital and mass migration could result in an even more significant contraction, with a collapse in trade flows, a further decline in tax collection capacity, and a further deterioration in its fiscal and external position,” said. The Executive Board of the organization made last week the disbursement of 1,400 million dollars in emergency aid to Ukraine. The amount approved by the IMF matches that requested by the Ukrainian government and seeks to "mitigate the economic impact" of the war initiated by Russia. The refugees who have fled from Ukraine since the outbreak of the war, on February 24, already reach 2.8 million, of which more than half (1.7 million) arrived in neighboring Poland, according to figures updated daily by the UN Refugee Agency (UNHCR). The rest of Ukraine's neighboring countries continue to receive this flow of refugees and, among them, 255,000 arrived in Hungary and 204,000 in Slovakia, due to a conflict that has also caused more than two million internally displaced persons. Link: https://holanews.com/la-economia-de-ucrania-puede-caer-un-35-en-2022-si-la-guerra-se-alarga-segun-el-fmi/
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