A glance at the impacts of the Russia war- Ukraine to the world economy in 2022

Abstract

The war between Russia and Ukraine has created a severe humanitarian crisis and caused huge
economic shocks on a global scale in 2022. Before the outbreak of war, the outlook World growth is forecast to be positive in the period 2022- 2023, with growth and inflation returning to normal when the COVID-19 pandemic and supply chain constraints are gradually reversed. However, the war in Ukraine, along with the closure of major cities and ports in China due to the zero COVID policy, created a new set of adverse shocks. This article will analyze the impacts of the Russian-Ukrainian war on the world economy in 2022 and the policy requirements set for governments in 2023.