UK to be major economy worst hit by Ukraine war, says OECD

[moon]

UK to be major economy worst hit by Ukraine war, says OECD
Thinktank forecasts UK growth to slow to standstill in 2023, as impact of conflict felt

Britain’s economy is forecast to slow to a standstill next year as it suffers more than any other major industrial country from the effects of Russia’s invasion of Ukraine.

The UK will grow by 3.6% in 2022 before posting zero growth in 2023, according to the Paris-based thinktank the Organisation for Economic Co-Operation and Development (OECD), with inflation expected to average 8.8% this year and fall only slightly to 7.4% in 2023.

The predictions – contained in the OECD’s half-yearly economic outlook – represent a sharp downgrade from the estimated 4.7% growth this year and 2.1% next year made six months ago.

Laurence Boone, the thinktank’s chief economist, said the UK was being hit by a combination of factors, including higher interest rates, higher taxes, reduced trade and more expensive energy.

The OECD said the UK was expected to go from the second-fastest-growing economy in the G7 group of industrial nations after Canada this year to the slowest-growing in 2023. Japan, Germany, Italy, France and the US make up the other members of the group.

https://www.theguardian.com/busines...or-economy-worst-hit-by-ukraine-war-says-oecd

Those in charge won't suffer, of course. Brexit Bozo has his escape planned. They know that their days are numbered and they'll be able to disappear from public view soon with their booty. That's what they think.

Isn't it exactly what banana republic dictators do ?

Haw, haw....................................haw.

 

[goat]

Yes, that's exactly right. The most wealth nation in history has found a way to become a banana republic. We got the government we deserve. Look how many so-called anti-war dems are pushing for WW3. Biden caused more refugees than Trump and GWB combined. The US is backwards and upside down. Every economist is screaming systemic collapse yet we're sending $40 billion to corrupt fascists in Ukraine.

 

[floridafan]

Yes, that's exactly right. The most wealth nation in history has found a way to become a banana republic. We got the government we deserve. Look how many so-called anti-war dems are pushing for WW3. Biden caused more refugees than Trump and GWB combined. The US is backwards and upside down. Every economist is screaming systemic collapse yet we're sending $40 billion to corrupt fascists in Ukraine.

Please explain how Biden created refugees? If we were really pushing for another world war, we would have had troops in the Ukraine long ago, Comrade

 

[moon]

Please explain how Biden created refugees? If we were really pushing for another world war, we would have had troops in the Ukraine long ago, Comrade

Then we'd all be dead. Better, the planners believe, to have a proxy , nuke-free, war in Ukraine.

 

[floridafan]

Then we'd all be dead. Better, the planners believe, to have a proxy , nuke-free, war in Ukraine.

I am sure you are thrilled with how well the Ukrainian military is doing, Comrade.

 

[goat]

Please explain how Biden created refugees? If we were really pushing for another world war, we would have had troops in the Ukraine long ago, Comrade

NPR is claiming there are already over 8 million Ukrainian refugees and projecting millions more.

 

[floridafan]

NPR is claiming there are already over 8 million Ukrainian refugees and projecting millions more.

Once again, where is Bidens responsibility, or maybe we should look to the country that invaded Ukraine, in what they thought would be a cakewalk, Comrade?

 

[goat]

Once again, where is Bidens responsibility, or maybe we should look to the country that invaded Ukraine, in what they thought would be a cakewalk, Comrade?

Hunter Biden worked for a shell company that launders money to sleepy Joe and all his cronies. Did you expect Putin to sit back and allow Biden to destroy Russia?

 

[floridafan]

Hunter Biden worked for a shell company that launders money to sleepy Joe and all his cronies. Did you expect Putin to sit back and allow Biden to destroy Russia?

Every day a new and more pathetic excuse, Comrade. What will you come up with tomorrow?

 

[moon]

I am sure you are thrilled with how well the Ukrainian military is doing, Comrade.

Attempting to address the censored side of the events does not make reporters card-carrying communists. Grow up.

 

[goat]

Every day a new and more pathetic excuse, Comrade. What will you come up with tomorrow?

You're ignoring the fact that Obama ordered the coup in Ukraine. Who was his veep at the time? That's why Hunter got paid $1 million from Burisma in 2016. Dems can no longer claim to be the party of peace.

 

[floridafan]

Attempting to address the censored side of the events does not make reporters card-carrying communists. Grow up.

If you want to speak of communists, my dear, lets talk about your admiration of Comrade Putin

 

[floridafan]

You're ignoring the fact that Obama ordered the coup in Ukraine. Who was his veep at the time? That's why Hunter got paid $1 million from Burisma in 2016. Dems can no longer claim to be the party of peace.

When do you plan to Blame the Russians and only the Russians for a totally unprovoked assault on a peaceful country. The excuses your kind has used, over these months, for this invasion, changes by the day. It only serves to demonstrate that you dont have a clue, other than your worship of Putin and others of his ilk.

 

[goat]

When do you plan to Blame the Russians and only the Russians for a totally unprovoked assault on a peaceful country. The excuses your kind has used, over these months, for this invasion, changes by the day. It only serves to demonstrate that you dont have a clue, other than your worship of Putin and others of his ilk.

The UK is not the only country suffering from the Biden sanctions. How much are you paying for gas and grain? Why does the US get to decide where Europe buys its gas? Sanctions are a form of warfare that mostly hurt the poor. War is a tool the US uses as a hammer on the world. Dems need a new world war if they want to keep their legal bribes coming in from the war machine. That's how politics works.

 

[moon]

If you want to speak of communists, my dear, lets talk about your admiration of Comrade Putin

As I said, weirdo- grow up.

 

[floridafan]

The UK is not the only country suffering from the Biden sanctions. How much are you paying for gas and grain? Why does the US get to decide where Europe buys its gas? Sanctions are a form of warfare that mostly hurt the poor. War is a tool the US uses as a hammer on the world. Dems need a new world war if they want to keep their legal bribes coming in from the war machine. That's how politics works.

What does this have to do with Russia invading a peaceful country? As to sanctions, you didn't seem very concerned or bothered by the Trump sanctions.

 

[floridafan]

As I said, weirdo- grow up.

I am sure we can add Viktor Orban to your list of devotees.

 

[goat]

What does this have to do with Russia invading a peaceful country? As to sanctions, you didn't seem very concerned or bothered by the Trump sanctions.

If you read my posts it should be clear that I'm an anarchist who doesn't try to hide my contempt for our bloated and corrupt government. We should be investing in infrastructure here in the states instead of funneling all our money to the war machine. I'm not the enemy you should be worried about.

 

[moon]

I am sure we can add Viktor Orban to your list of devotees.

You can add whoever you like- but it just makes you weirder.

 

[Walt]

UK to be major economy worst hit by Ukraine war, says OECD

Call me crazy, but I just assumed Ukraine would suffer the worst from being invaded. Russia will probably suffer second worst, but there will be other like Belarus that might actually suffer second worst. Everything in Russia that is not oil or natural gas will suffer. Oil and natural gas will be sold for more, but not as much more as you would think. They are already having to offer 30% discounts from market prices to get people to buy from them. They simply cannot sell most of the oil and gas to anyone other than the Europeans, because they do not have the infrastructure. And their oil and gas industry is running out of replacement parts already, so even if they could sell all they are producing, they will be producing less.

We should not forget the collateral damage like Belarus, and the Central Asian nations. They will be hit by many of the same sanctions, but have less backup to survive the sanctions.

The UK has LNG terminals in abundance, which has actually, temporarily driven local gas prices to unusually low. It has lost its bigger market through Brexit, so that is a problem. They will have their problems.

I would still rather live there than trying to figure out how to pay for grain prices in Egypt. If grain takes up 0.5% of your budget, and doubles, it takes up 1% of your budget. If grain takes up 30% of your budget, and doubles, there is going to be a lot of other things you simply cannot buy.