Economic Survey, may 2022


After a turbulent period during the corona pandemic, Russia's invasion of Ukraine has created new turmoil in the global economy. In particular, there have been restrictions and uncertainty about energy supplies from Russia, but also supplies and prices of other raw materials, food and intermediates are affected by the war as well as the sanctions imposed.

The Danish economy will be affected, in line with other countries. Initially, many households are experiencing consequences in the form of price increases. This applies in particular to energy prices, which had already risen to high levels in the runup to the war. The war will also have a number of other consequences in Denmark, including in the form of a large number of persons displaced from Ukraine, urgent efforts to ensure independence from Russian energy, as well as new demands for defense and security policy, which will also be associated with costs.