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How ongoing conflict in Ukraine is affecting Kenyan, global economy

Mount Equity Group Tokyo Japan > News > Markets > How ongoing conflict in Ukraine is affecting Kenyan, global economy

An explosion is seen in an apartment building in Mariupol, Ukraine, Friday, March 11, 2022. [AP]

Europe is strongly affected by the war in Ukraine on different levels. Given the history of occupations of East European States by Soviet Union during the previous century, the Russian invasion is seen as an existential threat. Nato countries have been quick to strengthen their cooperation and embark on armament programmes, entailing new spending items on public budgets.

On the humanitarian level, the war has unleashed the largest refugee movements in Europe since the Second World War.

At the end of March, four million people – close to 10 per cent of the population of Ukraine – had fled to other European countries. Another six million are internally displaced. The Organisation for Economic Co-operation and Development (OECD) has estimated the cost of accommodating the refugees in the first year at more than $50 billion. In addition,…

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