Ukraine's GDP will decrease by almost half this year.
The statement came from the World Bank, SIA reports quoting unn.com.ua.
Ukraine's GDP is projected to shrink by about 45 percent in 2022 due to the blockade of Black Sea ports in southern Ukraine and damage to industry in the east of the country.
The World Bank has said that the Russian economy will also face a recession. Russia's GDP is projected to decline by 11.2 percent this year, and production in Eastern European countries, including Moldova, Belarus and Ukraine, by 30.7 percent.
The report says that if Russian troops cut off access to the Black Sea, Ukraine's economy, which is heavily dependent on agriculture, could suffer more.
The bank predicts that in the event of an unfavorable scenario in Ukraine, Russia's GDP could fall by 20 percent and Ukraine's GDP by 75 percent.
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