Ukraine estimates more than 500,000 million dollars in economic losses due to the war

The Ukrainian government estimated that the economic losses caused by the war with Russia they amount to more than $500 billion, Ukrainian Economy Minister Yulia Svyrydenko announced on Facebook on Monday.

The minister put the figure at “564,900 millions from Dollars” the “direct impact of the destruction” since the beginning of the Russian invasion on February 24, which includes “the indirect consequences of the fighting” on the economy, such as the increase in unemployment, the reduction in household consumption or the decline in government revenue.

“You have to keep in mind that every day the numbers change and, unfortunately, they increase,” said Svyrydenko, who is also a deputy prime minister.

The majors losses They occurred in the infrastructure, said the minister, with “almost 8,000 kilometers of roads damaged or destroyed”, as well as “dozens of train stations and airports”, with a total cost of 119,000 millions from Dollars.

On the other hand, Svyrydenko estimated that the GDP would fall from 112,000 millions from Dollars in 2022, which would mean a contraction of plus of 55% of the economy compared to 2021.

The state budget could lose 48,000 millions from Dollarswhich represents a reduction of almost 90% of the planned annual budget.

As compensation, Svyrydenko said the government would seek to confiscate Russian assets seized in the country.

“Ukrainedespite all the obstacles, will try to demand compensation from the aggressor”, he said.

Source: Elcomercio

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