Thread by @OECD

🆕 Economic and Social Impacts and Policy Implications of the War in #Ukraine 🇺🇦:

#OECD calls for well targeted support to the vulnerable as war undermines global #recovery.

Read full press release⤵️
oe.cd/4nK

Global economic #growth will be more than 1⃣ percentage point lower this year as a result of this #conflict.

#Inflation could be at least a further 2⃣.5⃣ percentage points higher on aggregate than it would otherwise have been.

👉🔎 oe.cd/4nK

#OECD calls for greater #EU solidarity in providing help to 🇺🇦 refugees:

Already some 3⃣ million people have fled #Ukraine with more waves of refugees expected in the weeks ahead.

This is far higher than in wake of the recent Syrian refugee crisis. 👇
oecd.org/economic-outlo…

⚡️#Energy #Ukraine

With Russia supplying around 1⃣6⃣% of the world’s natural #gas & 1⃣1⃣% of #oil, #energy prices have jumped alarmingly.

Gas spot prices in Europe are now more than 🔟times higher than a year ago & the cost of oil has nearly doubled 👇
oecd.org/economic-outlo…

💰 #Commodity prices

#Russia & #Ukraine account for a 3⃣rd of global #wheat exports & are producers of #maize & #fertiliser - this risks rising food insecurity across the world.

↗️ #metals prices could affect aircraft, car & chip manufacturing &more.

🔎 oecd.org/economic-outlo…