Within the intricate fabric of the global economy, many nations currently contend with formidable obstacles that have resulted in a profound upheaval within their respective economic systems.
Russia’s economy has underperformed for 15 years due to weak institutions, including a frail rule of law, inadequate protection of property rights, and widespread corruption.
The conflict with Russia has severely impacted Ukraine’s economy. The World Bank predicts a contraction of up to 45% in 2022. Critical export routes and trade have been disrupted, leading to a grain and staple exports ban for food security.
Syria’s economy has suffered greatly since 2011 due to its ongoing civil war. The conflict has resulted in a significant reduction in oil production and exports, which were crucial sources of revenue for the country.
Decades of conflict and instability have taken a heavy toll on Afghanistan’s economy. The spread of the COVID-19 virus and the withdrawal of foreign soldiers have also significantly affected the country.
Poor rule of law, inadequate protection of property rights, and widespread corruption have all contributed to Belarus’s long-standing economic difficulties.