According To Boone Medium-Term Impacts Are Underestimated!

OECD Chief Economist Laurance Boone touched upon the fact that governments do not have enough information and awareness about the long-term economic effects of Russia's invasion of Ukraine.

According to Laurance Boone medium-term impacts are underestimated. Boone said, "I think the medium-term effects of this war have been underestimated." The prolongation of the war will lead to more uncertainty. Increasing uncertainties will also negatively affect consumption and investments. The Organization for Economic Cooperation and Development, sometimes known as the Organization for Economic Cooperation and Development, the OECD Economic Organization, recorded on the first day of April that the Ukrainian crisis would reduce global growth by more than 1 percent and cause an increase in inflation by more than 2.5 percentage points. Boone said the war will have long-term causes in energy security, food security, digital security, payment systems and trade. Stating that the refugee problem will grow after the war, Boone underlined that if the number of refugees from Ukraine reaches 5 million, the settlement and integration process expenditures could reach 12,500 Euros per person on average.