Three quarters of global business leaders are expecting a global recession within the next 12 to 18 months due to Russia’s brutal war in Ukraine, a survey has warned.
The vast majority of CEOs fear economic decline is looming or already hitting countries across the world amid the vicious invasion, the report said.
But bosses are concerned the impact could be even more disastrous as many predict a tsunami of cyberattacks by despot Vladimir Putin.
Meanwhile they said the war will continue to batter companies and workers globally amid a cost of living crisis sparked by skyrocketing inflation.
It comes as Joe Biden again tried to downplay the threat of a recession by saying it was ‘not inevitable’ despite economists’ warnings.