Geneva, 24 Mar Russia's economy, a country subjected to intense international sanctions as a result of its invasion of Ukraine, will fall by 7.3 per cent in 2022, the United Nations Development Conference (UNCTAD) estimated on Thursday in its updated forecast report. Six months ago, the UN agency predicted that the Russian economy would grow by 2.3% this year, but given the economic consequences of the war, it has decided to lower this forecast by 9.6 points and thus predict that Russia will be the country most affected by the economic consequences of the war that began a month ago. As a result of this downward revision, UNCTAD also forecasts that Europe's economy will grow by only 0.9 per cent, compared to 3 per cent estimated half a year ago, a percentage that would place the Old Continent well below the expected GDP increases in America (2.4 per cent) and Asia (3.8 per cent).
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