The EIB’s report on the “Ukraine economic shock” brings to attention the current and future macroeconomy trend in Europe. Pessimistic forecast in all sectors and aspects of life are assigned to the war in Ukraine -though it is to say that the rallies of raw material and energy prices begun in 2021 in concomitance with shortages, demand pressure and financial speculation on their market.
Mass poverty and the worse economy crisis of the last century are the predictable and inevitable results of the USA-UE sanctions on Russia export of energy products and a small bunch of raw materials (e.g. fertilisers), more than side-effects of the war. The coming credit crunch, as a conseguence of inflation and bank crisis, will make things even worse.
Download the full report from EIB: How bad is the Ukraine war for the European recovery?