LAST April 19, it became as official as it could be, that the global economy is facing a significant decline in growth rates. The International Monetary Fund (IMF) announced its revised expectations for gross domestic product growth around the world.
It is obvious Russia's war against Ukraine contributes even more to the imbalance. Energy prices have risen sharply, some raw materials can no longer be imported from Russia, and wheat and sunflower oil from Ukraine are absent. In addition, some companies are affected by the fact that outsourcing to these two countries has been interrupted, and that once again, there will be halts in the regional supply chains. Russia and Ukraine also account for large supplies of fertilizers, which will have an effect on agricultural costs in several parts of the world. The war is also very close to Western Europe, which dampens the desire to invest and consume in a number of large European countries.
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