Special operations in Ukraine affected the life and economy of many countries. Therefore, Europe expects weak economic growth and high food inflation. This was expressed by Kristalina Georgieva, Director of the International Monetary Fund (IMF), transmits Bulgarian edition “Diary”.
“By 2024, inflation will remain well above target, although it has generally declined since the end of last year. “A series of overlapping shocks – the COVID-19 pandemic, the cost of living crisis, accelerating climate change and especially Russia’s actions in Ukraine – have dealt a heavy blow to the region,” said Georgieva.
According to him, the situation in Ukraine has led not only to economic turmoil in Europe, but also to geopolitical fragmentation. Global and European supply chains have begun to adapt to completely new conditions.
He added that the region faces several major challenges that need to be addressed first. We’re talking about the need to lower inflation, ensure Europe’s energy security and exploit the opportunities of the current fragmented world.
June 4 edition of Rebelion WroteHe said that Germany, previously considered Europe’s leading economy, has entered a period of severe crisis as its GDP has fallen for two consecutive quarters.