Reports of a possible Russian invasion are costing the Ukrainian economy $2-3 billion a month

Kyiv official says new investment has stalled, while inflation, tourism losses and flight disruptions all contribute to losses

Ukraine loses about $2 billion to $3 billion each month due to reports of a possible Russian attack on the country, a senior official has said.

In an interview with the RBK Ukraine daily published on Monday, Rostislav Shurma, deputy head of the head of state’s office, said that since reports emerged that Russia is amassing troops along the eastern border with a view to an attack, Ukraine suffered losses in the form of new investments, now halted.

Rising inflation, falling tourist numbers visiting the country and flight cancellations all contributed to the losses, Shurma added.

Moreover, there is also speculative pressure of $1.5-2 trillion in the forex market.

He added that another $4 billion to $5 billion is needed to fund previously planned state projects.

While Russia has been accused of a possible invasion of Ukraine by Western countries in recent months, Moscow has denied any planned invasion instead of stationing thousands of troops to the Ukrainian border.

*Writing and contributions by Gokhan Ergocun in Istanbul

Christi C. Elwood