FRANCE 24 English published this video item, entitled “OECD sees lower world growth due to Ukraine war’s ‘hefty price’ • FRANCE 24 English” – below is their description.
The OECD warned Wednesday that the world economy will pay a “hefty price” for Russia’s invasion of Ukraine as it slashed its 2022 growth forecast and projected higher inflation. The Paris-based organisation, which represents 38 mostly developed countries, is the latest institution to predict lower GDP growth due to the conflict, which has sent food and energy prices soaring.
#OECD #Globalgrowth #warinUkraine
🔔
FRANCE 24 English YouTube Channel
Got a comment? Leave your thoughts in the comments section, below. Please note comments are moderated before publication.
About This Source - FRANCE 24 English
The video item below is a piece of English language content from France 24. France 24 is a French state-owned international news television network based in Paris.
France is a republic and the largest Western European nation. Through expansion and colonisation in the 17th and 18th centuries France became a great power and still retains territories around the world. It has a seat on the UN security council and is the world’s fourth most wealthy country with a high standard of living and strong cultural identity.
In economics, inflation refers to a general progressive increase in prices of goods and services in an economy. When the general price level rises, each unit of currency buys fewer goods and services; consequently, inflation corresponds to a reduction in the purchasing power of money.
The Organisation for Economic Co-operation and Development is an intergovernmental economic organisation with 38 member countries, founded in 1961 to stimulate economic progress and world trade.
Paris, France‘s capital, is a major European city and a global center for art, fashion, gastronomy and culture. Its 19th-century cityscape is crisscrossed by wide boulevards and the River Seine. Major landmarks include the Eiffel Tower, the 12th-century, Gothic Notre-Dame cathedral and the Arc de Triomphe on the Champs-Élysées.
Russia, or the Russian Federation, is a transcontinental country located in Eastern Europe and Northern Asia. It extends from the Baltic Sea in the west to the Pacific Ocean in the east, and from the Arctic Ocean in the north to the Black Sea and the Caspian Sea in the south.
Russia spans more than one-eighth of the Earth’s inhabited land area, stretching eleven time zones, and bordering 16 sovereign nations. Moscow is the country’s capital.
The Soviet Union was dissolved in 1991 and since 1993 Russia been governed as a federal semi-presidential republic. Russia is a major great power, with the world’s second-most powerful military, and the fourth-highest military expenditure. As a recognised nuclear-weapon state, the country possesses the world’s largest stockpile of nuclear weapons.
Ukraine is a large country in Eastern Europe known for its Orthodox churches, Black Sea coastline and forested mountains. Its capital, Kiev, features the gold-domed St. Sophia’s Cathedral, with 11th-century mosaics and frescoes. Overlooking the Dnieper River is the Kiev Pechersk Lavra monastery complex, a Christian pilgrimage site housing Scythian tomb relics and catacombs containing mummified Orthodox monks.