Ukraine War To Halve Global Trade Growth
Apr 4, 2022 ·
52s
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Description
The Ukraine war has led the World Trade Organization to cut its global trade growth forecast for this year. WTO boss Dr Ngozi Okonjo-Iweala says the previous 4.7% growth forecast...
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The Ukraine war has led the World Trade Organization to cut its global trade growth forecast for this year.
WTO boss Dr Ngozi Okonjo-Iweala says the previous 4.7% growth forecast has been cut to 2.5% due to the impact of the war and related policies.
She says disruptions would make food more costly, saying that a food crisis is brewing.
Dr Okonjo-Iweala told the BBC that although Russia and Ukraine only make up about 2.5% of global merchandise exports, they are very, very significant in certain sectors.
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WTO boss Dr Ngozi Okonjo-Iweala says the previous 4.7% growth forecast has been cut to 2.5% due to the impact of the war and related policies.
She says disruptions would make food more costly, saying that a food crisis is brewing.
Dr Okonjo-Iweala told the BBC that although Russia and Ukraine only make up about 2.5% of global merchandise exports, they are very, very significant in certain sectors.
Information
| Author | Africa Business Radio |
| Organization | Africa Business Radio |
| Website | - |
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