VOA新闻杂志2023--A Year Later, War in Ukraine Still Affects World Economy

A Year Later, War in Ukraine Still Affects World Economy

One year after Russia invaded Ukraine, the worldwide economy is still feeling the effects.

There are fewer supplies of grain, fertilizer and energy. There is also higher inflation and more economic uncertainty¹.

But as bad as the war's impact has been, it could have been worse. Companies and countries in the developed world have been able to survive the difficulties. In developing economies, however, the pain has been worse.

In the United States and other wealthy countries, there has been a rise in consumer prices, caused in part by the war's effect on oil prices. But the price increase has eased. It has raised hopes that the U.S. Federal Reserve will not raise interest rates in the world's largest economy. Higher interest rates could lead to a recession.

Some good luck has helped, too. A warm winter has helped lower natural gas prices and limit the damage from an energy crisis, after Russia largely cut off gas to Europe.

But in ways big and small, the war is causing pain. In Europe, for example, natural gas prices are still three times higher than they were before Russia began its invasion.

High food prices are especially difficult for the poor. The war has affected² wheat, barley³ and cooking oil exports from Ukraine and Russia. The two countries are major suppliers for Africa, the Middle East and parts of Asia where many struggle with hunger. Russia was also the top supplier of fertilizer.

In Nigeria, a top importer of Russian wheat, average food prices increased 37 percent last year. Bread prices have doubled in some places because of wheat shortages.

"People have huge decisions to make," said Alexander Verhes. He runs Life Flour Mill Limited in Nigeria's southern Delta⁴ state. He added, "What food do they buy? Do they spend it on food? Schooling⁵? Medication?"

At least 40 percent of bread bakeries in the Nigerian capital of Abuja shut down after the price of flour jumped about 200 percent.

In Spain, the government is spending 300 million euros to help farmers buy fertilizer. The price of fertilizer has doubled since Russia's war in Ukraine.

"Fertilizer is vital because the land needs food," said Jose Sanchez. He is a farmer in the village of Anchuelo, east of Madrid.

It all means a slowing world economy. The International Monetary⁶ Fund (IMF) dropped growth expectations this year.

The IMF says prices increased 7.3 percent in the wealthiest countries last year. That was above its January 2022 prediction of 3.9 percent. Prices increased 9.9 percent in poorer countries, up from 5.9 percent expected pre-invasion.

In Indonesia's capital, Jakarta, many street food sellers know they cannot make people pay more money. So some are giving smaller portions instead, in a practice known as "shrinkflation.''

"One kilogram of rice was for eight portions ... but now we made it 10 portions," said Mukroni who runs a food stand. People, he said, "will not come to the shop" if prices are too high.

"We hope for peace," he said, "because, after all, no one will win or lose, because everyone will be a victim."

Words in This Story

fertilizer — n. a substance that is added to soil to help the growth of plants

consumer — n. a person who buys goods and services

interest — n. the money paid by a borrower for the use of borrowed money

bakery — n. a place where bread, cakes, cookies, and other baked foods are made or sold

vital — adj. extremely important

portion — n. the amount of food that is served to a person at one time

1 uncertainty   

n.易变，靠不住，不确知，不确定的事物

参考例句：

• Her comments will add to the uncertainty of the situation.她的批评将会使局势更加不稳定。
• After six weeks of uncertainty,the strain was beginning to take its toll.6个星期的忐忑不安后，压力开始产生影响了。

2 affected   

adj.不自然的，假装的

参考例句：

• She showed an affected interest in our subject.她假装对我们的课题感到兴趣。
• His manners are affected.他的态度不自然。

3 barley   

n.大麦，大麦粒

参考例句：

• They looked out across the fields of waving barley.他们朝田里望去,只见大麦随风摇摆。
• He cropped several acres with barley.他种了几英亩大麦。

4 delta   

n.（流的）角洲

参考例句：

• He has been to the delta of the Nile.他曾去过尼罗河三角洲。
• The Nile divides at its mouth and forms a delta.尼罗河在河口分岔，形成了一个三角洲。

5 schooling   

n.教育；正规学校教育

参考例句：

• A child's access to schooling varies greatly from area to area.孩子获得学校教育的机会因地区不同而大相径庭。
• Backward children need a special kind of schooling.天赋差的孩子需要特殊的教育。

6 monetary   

adj.货币的，钱的；通货的；金融的；财政的

参考例句：

• The monetary system of some countries used to be based on gold.过去有些国家的货币制度是金本位制的。
• Education in the wilderness is not a matter of monetary means.荒凉地区的教育不是钱财问题。