War in Ukraine could change the global economic order in the long run. This was announced by the IMF, reports korrespondent.

The IMF has once again said the war is driving up food and energy prices, fueling inflation and lowering incomes while disrupting trade, supply chains and remittances to Ukraine's neighbors.

The situation is also undermining business confidence and causing uncertainty among investors, which will lead to lower asset prices, tighter financial conditions and may provoke capital outflows from emerging markets..

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The IMF expects a reduction in the previous forecast of the Fund on the growth of the global economy at 4.4% in 2022.

Regional growth forecasts are also likely to be revised down.

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Finally, the IMF predicted deep recessions in Ukraine and Russia and said Europe could face disruptions in natural gas imports and wider supply chain disruptions. Eastern Europe, which hosted most of the 3 million people who fled Ukraine, will face higher funding costs as a result.

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It was reported that the IMF gave a preliminary estimate of the decline in Ukraine's GDP in 2022.