Ukraine's First Lady avers Russia must be blamed for the surge in energy & product prices

First Ly of Ukraine Olena Zelenska highlighted  effects of brutal war on world that Russia started, particularly increase in cost of goods and energy in many nations. Zelenska me se comments during an interview to CNA TV channel of a Singapore national brocaster. She furr highlighted fact that nobody in world can take a neutral stance in this war but ded that "it is not Ukraine that is to blame for rise in energy and product prices, but Russia."

In interview, Zelenska said, “People in or countries should know: if ir prices are rising, it is not Ukraine's fault, it is fault of inver who started war.” 

Stressing that it is must for world to acknowledge who started war, she said: “You can be eir on side of inver or on side of one who was attacked. re is no option number three.” ding to it, Zelenska noted, “To make up your mind, you just have to honestly ask yourself: would I like to be in place of Ukraine and Ukrainians and experience such an attack?”.

Ukraine's inflation rate would exceed 30% due to war

Meanwhile, National Bank of Ukraine's quarterly inflation report for July 2022 revealed that country's inflation rate would exceed 30% and its gross domestic product (GDP) will decline by around a third in 2022 due to ongoing war. bank underlined damages to Ukrainian economy and significant inflationary pressure h been brought on by ongoing Russian military assault. It went on to say that since April, as Ukraine has continued to free territories and reduce number of areas affected by active fighting, economic activity has been returning, as per media reports. In second quarter of 2022, unemployment rate h risen to almost 35% as a result of severe economic downturn.  

bank furr predicted that in 2023, economic development will resume in war-torn country. National Bank of Ukraine emphasised that inflation would start to drop in first quarter of 2023 and will pick up speed by end of 2022. 

According to bank's assessment, inflation would reach 31% as long as war and high energy prices continue to negatively impact most of supply. It ded that improved inflation expectations, logistical procedures, investment activities, and a grual increase in harvests are all projected to cause inflation to slow down in 2023. Consumer inflation will decline, bank anticipated, reaching 20% in 2023 before falling furr to a single-digit level in late 2024, as per media reports. 

(Image: AP)