The Russian invasion of Ukraine could cost “from a point to a point and a half” of growth in Europe depending on the duration of the conflict, while inflation would grow “from two to two and a half points”, warned the chief economist of the Economic Cooperation and Development (OECD), Laurence Boone.
The economist told the French daily Journal du Dimanche that “the degree of uncertainty is high” As for the projections, for what he considers that “a deep reflection on fundamental issues, such as food, energy and digital security, as well as the organization of trade” will be necessary.
Asked about the increase in generalized prices due to the war in Ukraine, she pointed out that the conflict “puts upward pressure on grain and fertilizer prices, of which Russia and Ukraine are exporters”, and that “it can affect not only the harvests of this anus, but also those of 2023“.