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PM says damage to Ukrainian economy from Russian aggression exceeds $700bn

The state budget provides 35.5 bln UAH for eliminating the consequences of armed aggression.

PM says damage to Ukrainian economy from Russian aggression exceeds $700bn
Photo: kmu.gov.ua

Prime Minister Denys Shmyhal said at a government meeting on Tuesday, 3 January, that the damage caused to Ukraine's economy as a result of the war exceeds $700 billion, LB.ua reported.

"Together with the World Bank, we plan to conduct another verification of Ukraine's needs for a speedy recovery. Let me remind you that we had such data at the beginning of June. Then the figure was $350 billion of inflicted damage. Given the recent attacks on our infrastructure, today this amount is more than $700 billion," he said.

According to him, UAH 35.5 billion is envisaged in the state budget this year for the Fund for the Elimination of the Armed Aggression Consequences.

"This is the construction and repair of public buildings, critical infrastructure facilities, provision of housing for internally displaced persons. Also, in the near future, we expect to start restoration at the expense of funds confiscated from Russian banks - there is already UAH 17 billion in the special account for this purpose. The priority is the destroyed housing of people," Shmyhal said.

Since the beginning of Russia's full-scale invasion, Ukraine has received more than $31 billion from foreign partners.

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