Two countries to cause biggest economic impact in 2023

Two key factors will affect the global economy this year, specifically, the situation in China and in Ukraine, according to economist Nikolai Kulbaka (Ph.D.) who spoke to

The expert states that the Chinese economy is going through a rough time. Persisting challenges will make global recession more probable, which is not surprising, considering that China is the world’s second largest economy.

Nikolai Kulbaka sees the situation in Ukraine the second most important factor. As is widely known, the ongoing conflict affects not only Ukraine and Russia but other countries as well. In particular, Europe is suffering from an energy crisis that became worse after imposing sanctions on Russia. The conflict does not inspire much optimism in investors, the economist stressed.

At the same time, Nikolai Kulbaka is not expecting a deep recession in the global economy.

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