Hong Kong
CNN Business
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Ukraine could lose almost half of its economy this year as a result of Russia’s invasion, according to the World Bank.
In a report published Sunday, the bank estimated that the country’s GDP could decline by 45.1% this year, although it noted that “the magnitude of the contraction will depend on the duration and intensity of the war.”
Since the incursion began, vast swathes of Ukraine’s infrastructure have been devastated, with many bridges and neighborhoods damaged or destroyed. Some areas, including ports, have been hit by blockades, while farmland around the country has been turned into battlefields.
Ukraine was a major exporter of wheat and sunflower oil before the war, and this year’s planting season is being disrupted by fighting. Farmers also face difficulty accessing…
