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The World Bank expects a standard price crisis in 2022
Economy 03:48 - 28/04/2022
Baghdad- Mawazine News
The World Bank expects a historical increase in global energy prices (50%) and non-energy commodities (20%) in the year 2022, in light of the conditions related to the war in Ukraine.
This came within the April report, prepared by World Bank experts and published today.
The report said: "It is expected that the prices of energy resources in the year 2022 will be much higher than it was in the year 2021, and there will be no decrease in prices in the medium term."
World Bank experts indicated that despite the assumption of a significant increase in prices in 2022, the real numbers show that they are much higher than expected, and
they said that Russia and Ukraine consider two major global sources of fossil fuel, fertilizers, grains and minerals.
Experts also indicated that the basic commodity market is already witnessing a rise in prices and demand, against the backdrop of the recovery of the global economy after the Corona crisis.
World Bank analysts expected that the average price of oil from the brand "Brent" this world would reach the level of $100 a barrel, which is the highest level since 2013, and it is 42% higher than the average price in the year 2021.
Experts also indicated that the prices of non-energy commodities will rise by about 20%, while wheat is expected to record more than 40%.
The World Bank called on politicians in the world to protect the poor classes from high prices.
It is noteworthy that global food prices have started to rise since the beginning of the year 2021, as a result of the irresponsible policy that Western central banks have followed during the past years, as
they pumped dozens of trillion of dollars, euros, and the non -supported sterling in Western economies, which fueled inflation.
Inflation was exacerbated recently with the imposition of Western countries, including the European Union and the United States, unprecedented sanctions on Russia, which is one of the most prominent producers of energy resources and grain exporters in the world. End 29/h
The World Bank expects a standard price crisis in 2022
Economy 03:48 - 28/04/2022
Baghdad- Mawazine News
The World Bank expects a historical increase in global energy prices (50%) and non-energy commodities (20%) in the year 2022, in light of the conditions related to the war in Ukraine.
This came within the April report, prepared by World Bank experts and published today.
The report said: "It is expected that the prices of energy resources in the year 2022 will be much higher than it was in the year 2021, and there will be no decrease in prices in the medium term."
World Bank experts indicated that despite the assumption of a significant increase in prices in 2022, the real numbers show that they are much higher than expected, and
they said that Russia and Ukraine consider two major global sources of fossil fuel, fertilizers, grains and minerals.
Experts also indicated that the basic commodity market is already witnessing a rise in prices and demand, against the backdrop of the recovery of the global economy after the Corona crisis.
World Bank analysts expected that the average price of oil from the brand "Brent" this world would reach the level of $100 a barrel, which is the highest level since 2013, and it is 42% higher than the average price in the year 2021.
Experts also indicated that the prices of non-energy commodities will rise by about 20%, while wheat is expected to record more than 40%.
The World Bank called on politicians in the world to protect the poor classes from high prices.
It is noteworthy that global food prices have started to rise since the beginning of the year 2021, as a result of the irresponsible policy that Western central banks have followed during the past years, as
they pumped dozens of trillion of dollars, euros, and the non -supported sterling in Western economies, which fueled inflation.
Inflation was exacerbated recently with the imposition of Western countries, including the European Union and the United States, unprecedented sanctions on Russia, which is one of the most prominent producers of energy resources and grain exporters in the world. End 29/h
