Danubius International Conferences, 12th International Conference The Danube - Axis of European Identity
The Impact of the War in Ukraine on the Economies of the Countries in the Danube Region
Last modified: 2022-06-22
Abstract
The Ukrainian war has impacted the world and continues to leave its mark on both the economies of the world and the lives of the people.
The most affected countries will be the developing countries, which are already facing high inflation.
The outbreak of war has shocked the supply of fossil fuels (oil, gas and coal), food (corn), chemical fertilizers (potassium and nitrogen) and industrial raw materials (nickel, titanium), because Ukraine and Russia owned an important part of the exports of these goods, determining at the same time the increase of the prices for them worldwide.
One of the hypotheses of the specialists, which is confirmed by the financial-monetary institutions is that the impact of this war will not bypass any country in the worldbut will be affected in different percentages. This is largely due to the dependence of these countries on Ukraine and Russia.
In this paper we aim to emphasize the impact that the war in Ukraine has on the economies of the countries in the Danube Region because no matter which way this war goes, the world-wide economies have and will suffer, but the ones most affected by it will remain the citizens.
