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Ukraine’s losses from the war exceed 1tn dollars, taking into account future losses - Shmygal

As of the beginning of March, direct losses are estimated at over 560bn dollars.

Ukraine’s losses from the war exceed 1tn dollars, taking into account future losses - Shmygal
Denys Shmyhal: Screenshot of video

Ukraine’s losses from the war with Russia, including future losses, exceed 1tn dollars, the Prime Minister of Ukraine, Denys Shmyhal, said in an interview with

He noted that these are expert estimates, but the accounting of losses is structured.

The first part of losses is direct infrastructure losses. “This is what we have lost as a result of direct destruction: bridges, roads, housing, buildings, but these numbers are growing daily. At present, our estimate [for this type of losses] is about 120bn dollars,” Shmyhal said. If losses of military infrastructure and other civilian expenditures are included, this number increases to over 270bn.

The second part is the calculation of the losses of our economy, the decline of GDP by months when hostilities continue. “This is the unearned profit and unfulfilled investments of our enterprises. According to our estimates, this amounts to more than 290bn dollars,” mentioned in the statement.

The third part is the losses incurred by the state due to the future decline of GDP. “Before the war, we had plans for how our economy would grow. At present, the enterprises that were supposed to bring income to the state have been destroyed. Therefore, after the war, of course, there will be significant adjustments,” Shmyhal explained.

According to him, the first two parts of the losses amounted to more than 560bn dollars as of the beginning of March. “These are direct losses. In the third part, the losses, calculated indirectly, taking into account the losses in subsequent years, amount to more than a trillion dollars,” he concluded.

For detailed accounting, the register of the damaged property was created. A part of this register will function through [e-government application] “Diia”. Everyone will be able to register the losses caused to their households. We will have accurate, almost precise accounting records of all damages. It is the standard approach in such cases.

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