Ukraine’s post-war reconstruction cost estimates raised to $411 billion, says UN
Photo from Bahmut (Photo:libkos/Instagram)
It will take $411 billion to cover Ukraine’s reconstruction costs after the full-scale Russian invasion of Ukraine, the UN revealed in a report titled “World Economic Situation and Prospects as of mid-2023”, published on May 16.
“The longer-term outlook for Ukraine will depend on the duration and intensity of the war and its ability to finance reconstruction, with reconstruction cost estimates raised to $411 billion,” reads the report.
According to the UN, Ukraine’s economy lost a large share of its industrial capacity and energy infrastructure due to the war, contracting by 29.1% in 2022.
At the same time, despite external financial assistance, including an IMF loan and budget support from the European Union and the United States, the economy is likely to stagnate in 2023.
We’re bringing the voice of Ukraine to the world. Support us with a one-time donation, or become a Patron!
Follow us on Twitter, Facebook and Google News
