Ukraine's gross domestic product reduction because of russia's war against our country can reach 30 to 50 percent in 2022.
Prime Minister Denys Shmyhal wrote about it in The Economist column.
According to him, in the first six weeks, overall losses in Ukraine's economy exceeded 500bn dollars. As the government estimates, this number can grow to 1tn dollars or five times as much as last year's GDP.
"Tens of thousands of Ukrainians were killed, and millions had to move to the West of Ukraine or abroad," – the Cabinet's head noted.
Shmyhal recalled the blockaded Ukrainian seaport, shellings of the factories, attempts to disrupt planting, and demolished cities. He emphasized that all of this was part of the plan to destroy the Ukrainian economy.
"Two of our biggest metal industry enterprises – the Mariupol's Illich Steel and Iron Works and the "Azovstal" in Mariupol, are destroyed. More than 7 thousand residential buildings across the country are ruined or damaged," – he added.
The National bank of Ukraine forecasted the reduction of Ukraine's GDP by at least a third in 2022.