Ukraine has already lost $565 billion due to Russian invasion – Ukraine PM Shmyhal

16 March, 07:13 PM
Restructuring the economy must become the key foundation of victory - Shmygal (Photo:Government portal)

Restructuring the economy must become the key foundation of victory - Shmygal (Photo:Government portal)

Ukraine's losses have already reached $565 billion due to the war Russian dictator Vlaimir Putin unleashed on Ukraine on Feb. 24, Ukrainian Prime Minister Denys Shmyhal said on March 15.

“In our government, a group has already been created and is working on assessing the losses to the economy as a result of Russian aggression,” online newspaper Ukrayinska Pravda wrote, citing Shmyhal.

“Preliminary calculations indicate that direct one-time losses for Ukraine amount to $565 billion,” he said.

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He said that this is the amount that will be needed to restore the country.

“(This will be paid for) both at the expense of the repatriation funds of the Russian Federation, and at the expense of our partners,” Shmyhal said.

The IMF has predicted a fall in Ukraine's GDP of 10% and an acceleration of inflation to 19% due to the Russian invasion. The fund said it believes that “the intensity of the ongoing conflict is leading to widespread destruction of Ukraine's production capacity.”

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