Russia’s invasion of Ukraine profoundly impacted the global economy, immediately sending shockwaves across the globe. The attack of a country that was once a major energy supplier to Europe on the country which was one of the top food exporters in the world, sent food and fuel prices spiraling, causing major energy shortages and the prospect of protracted recession in the United States and the European Union.

On 28 February 2023, ISET hosted Ivailo Izvorski, World Bank’s Chief Economist for Europe and Central Asia, who delivered a seminar on 'Education and innovation for growth'. The seminar was well-attended by members of the academic community, researchers, and students. Izvorski discussed the important role that education and innovation play in promoting economic growth and development, as well as the opportunities and challenges of modern education systems.

According to Geostat's report titled “Tendency of Economic Growth, Indicators of Monthly Economic Statistics”, the real GDP growth in the fourth quarter of 2022 is estimated to be 9.5%, which has contributed to an overall annual real GDP growth of 10.1% in 2022.

Geostat has published its rapid estimate of the real GDP growth for the fourth quarter of 2022, and its estimated growth stands at 9.5%, which is 2.5 percentage points below the ISET-PI’s most recent forecast.

The third quarter of 2022 was marked by a “perfect storm” of global challenges. Due to the ongoing geopolitical, economic, and ecological turbulence, with inflation reaching its highest point in decades, the world economy remains volatile.