According to an interview with the Polish newspaper Observer Finansowy, Deputy Head of the National Bank of Ukraine Serhiy Nikolaychuk estimates at this figure the direct loss of resources and destruction of infrastructure due to Russia‘s full-scale invasion of Ukraine.

The amount of $140 billion equals two-thirds of Ukraine’s pre-war GDP. Nikolaychuk also noted that more than 8 million people were forced to leave the country because of the war. This is about 20% of the total population.

“The data is dramatic, but the economy is still alive. We see the economy adapting to the new conditions and, in fact, this year, we expect to see at least some small slow GDP growth of 0.3%,” the National Bank of Ukraine deputy chairman added.

The National Bank evaluated last year’s GDP decline at just 30%. This became possible since businesses, the government, and the Ukrainian people quickly adapted to the war conditions. However, the economy was further affected by Russia’s strikes on energy infrastructure.

See also

  • A study by the World Bank, United Nations, European Commission, and Ukraine reveals that rebuilding Ukraine’s economy after Russia’s invasion in February 2022 will cost $411 billion.
  • Over one-third of Ukrainians have relatives killed or wounded due to the war, while 28% of respondents have close relatives or family members who went abroad after 24 February 2022.