Russia's economy will shrink by 10% this year and Ukraine's gross domestic product by 20% as the war between the two countries causes "the biggest supply shock" in 50 years, the European Bank for Reconstruction and Development (EBRD) predicted on Thursday. [BR][BR]Before Russia invaded its neighbour on February 24, the London-based European Bank for Reconstruction and Development had forecast that Ukraine's GDP would grow by 3.5 percent this year and that the Russian economy would grow by three percent.
The EBRD said it was the first international financial institution to update growth forecasts since the outbreak of war in Ukraine last month.
(CNA)
CNA - AFP
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