Doha ( dpa )
Qatar National Bank confirmed in its weekly report that the negative shock resulting from the Russian-Ukrainian conflict will accelerate the trends of “stagflation”, and may erase some of the economic gains that were achieved as a result of the exceptional stimulus policies that were adopted after the “Covid-19” shock, adding: “It is considered The European Union is more vulnerable to being affected by this new environment.”
The bank explained in its report, which was reported by Qatar News Agency today, that the economic measures, which followed the beginning of the military escalation in Eastern Europe, are already creating major disruptions in commodity markets, and even before the start of the war, the prices of many commodities reached all-time highs with Inventories drop to historic lows.
Qatar National Bank noted that current discussions about the currency that will be used to pay for Russian gas exports indicate that Moscow may not want to accumulate trade surpluses in the US dollars or the euro, which are included in the sanctions, as Russia recently asked to pay for its gas exports in Russian rubles. There are concerns that these discussions may lead to a disruption of the gas trade.
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