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GDP of Ukraine may fall to 50% if Russia continues attacking infrastructure

Tuesday, 13 December 2022, 17:54

ANASTASIIA ZHARYKOVA – TUESDAY, 13 DECEMBER 2022, 18:07

In case Russia continues its large-scale missile attacks on the Ukrainian infrastructure, the Ukrainian GDP may drop to 50%.

Denys Shmyhal, the Prime-Minister of Ukraine, has reported this at the Ukraine’s economic resilience and reconstruction forum in Paris, as cited by Interfax-Ukraine media outlet.

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"The Ukrainian economy may contract about 35-40%. If Russia continues its terrorist activity aimed at our infrastructure, then we can lose 10% more, which will correspond to 50% of our GDP", – Shmyhal concluded.

Background:

According to the State Statistics Service of Ukraine, the GDP of Ukraine reduced by 30.8% in the third quarter of the year yet increased compared to the second quarter.

Due to the Russian massive attacks on the power infrastructure of Ukraine, the GDP fall rate may be even more dramatic this year, as stated by the National Bank of Ukraine; the restoration level next year may be far lower than it was predicted in October, or completely absent.

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