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Global Geo-Economic Consequences of the Russia-Ukraine War
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Author(s):
Irakli Kervalishvili (Georgian Technical University, Georgia)
Copyright:
2023
Pages:
19
Source title:
The Russia-Ukraine War and Its Consequences on the Geopolitics of the World
Source Author(s)/Editor(s):
Nika Chitadze
(International Black Sea University, Georgia)
DOI:
10.4018/978-1-6684-8521-7.ch012
Keywords:
Information Science Reference
/
Political Science
/
Social Sciences & Humanities
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Global Geo-Economic Consequences of the Russia-Ukraine War
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Abstract
Russia-Ukraine war and sanctions, which have been adopted against Russia, have seriously affected on the socio-economic development of Russia and world economy in general. In 2022, GDP of Russia reduced by about 2.1%, but after the entrance into force the sanctions in the field of energy, the damage for Russian economy in the beginning of 2023 have been increased significantly. First of all, those sanctions affected on the increasing the budget deficit of Russia, which prevailed 30 billion USD within the first three months of 2023.
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