you're watching dw news from berlin up next. we got business news for you. chelsea delaney will be here to tell us about forecasts. economic forecasts being drawn down with the weight of cope it covered up with them. and of course the war in ukraine. i'm terry martin. thanks for watching. what secrets lie behind these was discover new adventures in 360 degrees. and explore fascinating world heritage sites with d w world heritage 360. get the app now that we're interested in the global economy. our portfolio

d w. business beyond. here's a closer look at the project. our mission. to analyze the fight for market dominance. east this is wes. get a step ahead with the w business beyond ah, the world bank flashes, it's forecast for economic growth. well, it's the top economist warrants. it may have to cut its projections again as the global economy. faith is exceptional uncertainty and that the war and ukraine also coming up. we'll look at how lithuania became independent of russian gas and ask an expert if the rest of the block could follow in the baltic nations footsteps. and we take you to florida key west a tropical paradise that has had enough of cruise ship taurus himself,

delaney and berlin. welcome to the show. the brutal effects of russia's invasion of ukraine are devastating the global economy. the world bank is flashing its global growth forecasts for 2022 by nearly a full percentage point. well, being chief economist, carmen reinhardt warned, the downgraded production of 3.2 percent. growth could end up being too optimistic, amid quote, exceptional uncertainty for the global economy. global finance, financial little leaders are in washington this week for joint meetings of the international monetary fund and world bank food insecurity, skyrocketing inflation, and the rising risks of debt crises, and poor countries will top the agenda. now, russia's warren ukraine is the main reason for the worsening economic outlook from the world bank. it expects ukraine's economy to contract a stunning 45 percent this year. russia russia's own economy is expected to shrink 11 percent according to world bank forecast. russia's annual inflation is rising at

its quickest pace in decades since the invasion of ukraine, the onslaught of western sanctions and the withdrawal of multi nationals is hurting the economy. but that doesn't appear to worry russian president vladimir putin in buncombe, rosa. we can now confidently say that the policy of sanctions towards russia has failed. the economic blitzkrieg strategy didn't work. moreover, the initiators themselves couldn't get away with the sanctions. i'm talking about inflation and unemployment growth and economic dynamics worsening in the u. s. and european countries. he is on the hill when we're voted. luton acknowledges a sharp jumping consumer prices saying his government would raise pensions and the salaries of state employees to ease the impact on russians. meanwhile, russian central bank, governor, elvira w. lina has warned the economy could not survive indefinitely on its financial

reserves, and would have to change to deal with the impact of international sanctions. which of frozen almost half of the $640000000000.00 that russia hot in its golden for ex reserves? economists believe the worst impact is still to come and say, russia is likely to plunge into a deep recession. the world bank expects the economy to contract by more than 11 percent this year in moscow mer. sergio. so beyond, in warned that around 200000 people, risk losing their jobs in the capital alone. because foreign enterprises have suspended operations or decided to leave the russian marcus, even if the war and soon, many multinational companies are likely to return in the short term, fearing more disruptions. now to some of the other global vis and stories making news. the bank of russia says that will challenge in court, us and european sanctions, which half frozen its foreign currency reserves in the measures have cut off the kremlin access to around for areas of the economy most affected by

a wave of locked downs to curb. the countries worse coven 19 outbreak. to date, the 23 measures introduced by the people's bank of china, encouraged lenders to support local government infrastructure projects. and the countries struggling property sector. the price of u. s. natural gas has surged to its highest level since september 2008. the rise was driven by a global energy crunch over russia's war on ukraine as well as forecasts for an extended spell of cold weather. now lithuania, this month became the envy of the e. u. when it announced it had completely stopped importing gas from russia. it was able to pull the plug on russian energy things to its investment in a terminal to import liquefied natural gas, or l n. g. with a fitting name and dependence. every month, townships filled with liquefied natural gas had to lithuania by the baltic, c one fool ellen g carrier is all it takes to supply the countries $2800000.00

people with gas. wow. for month. we've been invited to take a peek at the high tech floating ellen g terminal that makes it possible in the port city of chi pita. before the terminal lithuania and the baltic states have been paying the highest price in the whole europe, approximately up to 40 percent more just because we did not have an alternative. after the defendant started operations of the region, the natural gas prices became just the same. as in the western europe, the terminal was cold independence because it makes lithuania completely independent of russian gas, which until recently was delivered high a pipelines, foaming in the terminal. and the port is prohibited due to fears of rush and sabotage. the ellen g comes from norway, the u. s. and the gulf states, the gas, which has cooled down to minus $160.00 degrees celsius for shipping,

is converted back to gas and fed into lithuanians grid through underground pipelines. could such a floating terminal also make germany independent of russian gas? i don't see any reason why it would not be feasible. for example, the fane. yeah. natural gas consumption. annual consumption is approximately 2000000 cubic meters. and this specific vessel has a capacity of free of 175. so that means that it can supply lithuania and neighboring country as a, with natural gas. it took 2 years to build a terminal, which will be expanded. it won't only make lithuania independent of rush and gas, but will also help the baltic state supply neighboring countries with ellen g. that will be done by this gas distribution plant close to the capital vilnius from here, l n g flows to lithuanians, neighbors. the operator is preparing for increased demand this

place actually is connected to the new gas pipeline that this so being under a very of finishing could touch us. and we will start did the on the 1st of may and towards poland and gas interconnection between pond and devaney. it's now easy for lithuania, poland, estonia, latvia, and finland to swap the gas reserves. so they have much better chances of making it through a russian gas embargo. while other countries hope to follow in lithuania, the you as a whole remains heavily dependent on russian gas. earlier i spoke to michael stopper chief strategist for global glass gas that i just market about whether ellen g is a realistic replacement for the rest of the block. well, it does take time to not only build run, put in place, re gas terminals, but indeed the entire infrastructure of the implant entire supply chain for l. n. j . i think with regards to those re gas terminals, they will be

a struggle to get up and running by the beginning of windsor, but probably should be up and running before the end of winter. so give us a sense of the situation right now for, for energy security in europe. do we have enough natural gas to get us through the coming months the coming year? well 1st, the 1st thing to say is that the russian gas, which of course is such an important percentage share of the european mix is continuing to flow. it's flying through the mold stream pipeline, and i'm flying across ukrainian territory into, into europe. so the gas is coming from your and from other sources from algeria from. ready no way and from l n g. the 2nd point that's very important members, the winter is not behind us well into spring and gas demand across here is declining very sharply. so the key issue now becomes preparing the storage bill that's required over the next 6 months to prepare for winter. and indeed

getting those re gas terminals in place to prepare ourselves for when to so we have a 6 month preparation period. it's very important to make maximum use of i mean, given how expensive l n g is, how realistic is that? that will play a major role in the energy supply going forward? think allergy will play a critical role. i mean, the entire energy complex is extremely stretch, so prices are very high. but the cost structure of alan g is well below the current, very high levels. if we get more investment, we can see competitive price is emerging, but that will take some years. as we adjust from this very high level of use of russian pipeline and we move to great use that n g, we do need to recall that the l n g market is truly global. and there are major economists, most notably japan and south korea. those are dependent 100 percent for the natural

gas from l n g. so you're is competing for that supply from other sources and it will take 4 or 5 years to get a supply response for new projects or up to meet to meet the required demand. but l n g will be one of the critical elements for diversifying the european gas supply slate. that was michael stoppard from h. i spark at now it's a common problem for, for some of the most beautiful places in the world. everyone wants to see them, but the more people come to less attractive it is. the trend of the citizens of key west have long been familiar with. and now they've put a stop to it. palm trees on beaches. pastel colored victorians and memories of hemingway. that's what key west used to be all about. but today, the island of the southern coast of florida is overrun by masses of tourist spit

out of giant cruise ships. big ships do tremendous damage to our ecosystem. the ships are too large for our, the long, narrow ship channel and they come through and they physically stir up the bottle even worse, their passengers don't do much for the local economy. they don't stay over night. they eat on board. among the few who do good business, other chomsky shops selling cheap souvenirs will be the cause you because it's helped with a business to help from everybody you know, with other course you grow the business, you know, not too big a loss. some would argue. and the numbers proof that the island might be better off without the giant vessels were the only good things that came out of the cove at pandemic was the fact that we got to see. we've got to see whether we need

a crew ships or not. we are going through one of the best years that we have ever had in the history of key west economically in 2022 and also in 2021. and those were our years predominantly without crew ships. hun, now the city council has closed the islands to public docs. only one private dock remains in service and it can only host one vessel a day that limits the number of tourists flooding key west and the environmental problems caused by an industry that has grown massively for too long. and a reminder of the top business story were falling for you. the power, the world bank is flashing it's global growth forecast for 2022 by nearly a full percentage point a mid russia's brutal war and ukraine. the development lenders, chief economist, carmen reinhardt, warned that the downgrade a projection of 3.2 percent growth could end up being too optimistic and made quote,

exceptional uncertainty for the global economy. and that's our show for more check us out at g, w caught dot com slash business, and the youtube channel. thanks so much for watching. the next time is math way more difficult in the space? we ask mathias, now we're on the international space station. we are curious to find out more how do astronauts deal with weightlessness? and why is food and space actually spicier? to day, we are taking off to me . oh, what people have to say matters to us. ah,

that's why we listen to their stories. reporter every weekend on d. w thanks . cow is off to the bathroom for a p and o in the name of science. ancient egypt has long been the focus of scientific curiosity. now it's been piracy, messages are being decoded and german astronaut mateus melva is busy with the variety of experiments on the ice s. he tells us how he's dealing with weightlessness. ah, hello and welcome to 2 more.