Rebuilding the Ukrainian economy to be a huge challenge

The direct and indirect losses estimated by the Ukrainian Ministry of Economy and the Kyiv School of Economics amount to between $564-$600 billion. This includes transport infrastructure as well as buildings and factories, and evidence of hundreds of consecutive damages is received from citizens on a daily basis through a dedicated portal. The Ukrainian government has announced that it will demand that Russia cover these losses. Funds for this purpose could also come from the frozen assets of Russia and Russians in Western banks.

"The government of Ukraine, in agreement with the Kyiv School of Economics (KSE), created a special portal open to the public for Ukrainian citizens, on which war damages can be registered. These war damages are then recorded, checked, and documents are attached. Data of persons reporting war damages are anonymised and on the basis of calculations from the first three weeks of the website's operation, the estimated tangible war losses are almost USD 60 billion. and photo," Dariusz Szymczycha. vice president of the Polish-Ukrainian Chamber of Commerce, said.

The latest forecasts of the World Bank assume that Ukrainian GDP will shrink by 45 percent this year, although this depends on the further intensity of the Russian attack on this country.

(Newseria)