28 Mar 2022 15:49

Damage caused to Ukraine estimated at $565 bln - Ukrainian Economy Ministry

KYIV. March 28 (Interfax-Ukraine) - The Ukrainian Economy Ministry estimates the damage caused by Russia's actions at $564.9 billion, Ukrainian First Deputy Prime Minister and Economy Minister Yulia Svyrydenko said.

"It's $564.9 billion. This is precisely the amount of the immediate damage suffered by Ukraine," Svyrydenko wrote on social media on Monday.

Svyrydenko said the calculation may either concern damage immediately caused by the destruction or the aggregate damage from all consequences, including a deterioration of the economic situation, unemployment growth, crippled trade, a decline in consumer demand, and so on.

At the present time, the structure of damage incurred by Ukraine may be estimated as follows:

$119 billion in damage caused to the infrastructure (about 8,000 kilometers of roads, tens of railway stations, and airports have been destroyed or damaged);

$112 billion in GDP loss in 2022;

$90.5 billion in damage caused to the civilian population (10 million square meters of housing, 200,000 automobiles, and food for 5 million people);

$80 billion in damage caused to businesses and organizations;

$54 billion in losses in direct investment in the Ukrainian economy;

$48 billion in state budget losses.

These figures keep growing from day to day, Svyrydenko said.

"Therefore, despite any obstacles, Ukraine will seek the recovery of compensation payments, both through court judgments and by nationalizing Russia's frozen assets," she said.