The war halts some 35% of the Ukrainian economy

Due to the war, about 35% of the Ukrainian economy is closed to this day.

This was stated by Prime Minister of Ukraine Denys Shmyhal, who spoke with BBC News Ukrainereports Ukrinform.

“According to various estimates by many experts, we have lost between 30% and 50% of our economy today. The GDP drop forecast is also 30-50%. Nearly 35% of our economy is not functioning today. The budget is estimated at 50-70% of the peacetime level. At the same time, the costs of social, humanitarian and demining needs have risen dramatically,” Shmyhal said.

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According to the Prime Minister, all of this creates a budget deficit of $5 billion a month. “It’s a lot of money and, of course, we ask our partners to support us, and we get such support. We work closely with the IMF, the International Bank, the United States and the Union The UK is very supportive of us,” Shmyhal said.

He added that the direct damage inflicted on Ukraine’s infrastructure and economy amounts to about 600 billion dollars and that this figure is constantly increasing.

According to the Prime Minister, more than 100 educational establishments and more than 500 medical establishments have been completely destroyed or damaged. 25,000 km of highways and several hundred bridges were also destroyed. Twelve international airports were damaged and more than 40 million square meters of housing was damaged or destroyed.

The head of government noted that companies have lost more than 200 factories, while 17% have ceased operations and 60% of companies are operating below pre-war capacities.

As reported by Ukrinform, on May 5, during a visit to Warsaw, Prime Minister Denys Shmyhal presented international partners and donors with a United24 platform

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On May 17, President Volodymyr Zelensky signed a decree establishing the United24 national brand to unite the efforts of international partners in favor of Ukraine.

On May 18, Ukrainian soccer legend Andriy Shevchenko became United24’s first ambassador.

Photo: Cabinet of Ministers of Ukraine

Christi C. Elwood