WB regional director: Possibility exists that Russia's war in Ukraine could last after 2022

16:59, 08.06.2022 1 min read

The likelihood that Russia's full-scale war in Ukraine will continue beyond 2022 is now increasing, says Arup Banerjee, Regional Director for Eastern Europe at the World Bank (WB).

"Unfortunately, the likelihood that the war could continue beyond 2022 is currently growing," Banerjee said in an exclusive interview with the Interfax-Ukraine News Agency.

He noted that the World Bank did not change the forecast for the decline in Ukraine's GDP in 2022 and believes that the country's economy will shrink by 44%.

"However, due to the long war, with active fighting still ongoing in some regions of Ukraine, we cannot be sure of our preliminary projections for a recovery in the medium term. As GDP is being affected by active fighting continuing for quite a large area of the country, and the rest of Ukraine is suffering from shelling, which causes corresponding losses to infrastructure, property and, therefore, livelihoods and jobs," the WB regional director said.