World Bank

Washington: The World Bank issued dire forecasts for Ukraine as Russia’s invasion impacts both the country and its neighbors, warning in a report released on Sunday of an even bleaker economic outlook if the conflict drags on.

Ukraine’s economy will collapse by 45.1 percent this year, the bank predicted, far worse than the 10 percent to 35 percent downturn the IMF projected last month. Russia will see an 11.2 percent decline in GDP, and the World Bank said the entire region is suffering economic consequences from the war.