KYIV, March 29 (NNN-AGENCIES) — The Ukrainian government estimated the economic damages losses from the Russian invasion, which has been underway for just over one month, at nearly $565 billion.
Economy Minister Yulia Svyrydenko said on Facebook that the $564.9-billion (515.8-billion-euro) estimate includes immediate damage plus expected losses in trade and economic activity.
“It should be noted that every day the numbers change and unfortunately they are increasing,” said Svyrydenko, who is also a deputy prime minister.
Damage to public and private property — with Russian forces resorting to fierce bombardments that have levelled some cities as their invasion, which began February 24, has stalled — was the biggest element.
Svyrydenko said public infrastructure losses — including damaged roads, railways and airports — totalled $119 billion, while damage to private property including housing was up to $90.5 billion.
Damages and losses suffered by private firms was put at $80 billion.
Svyrydenko estimated gross domestic product in 2022 would be down by $112 billion, which would be a drop of more than 55 percent of Ukraine’s economic activity last year.
Ukraine’s government will likely miss out on $48 billion in tax revenue, or just about all of what it was expecting to take in this year.
Meanwhile, $54 billion in foreign direct investment will likely not materialise.
Svyrydenko said Ukraine’s government would seek to confiscate Russian assets seized in the country as compensation.
“Ukraine, despite all the obstacles, will seek to exact compensation payments from the aggressor,” she said.
Meanwhile, at least 5,000 people have died in the besieged port city of Mariupol in southern Ukraine since Russia launched its invasion last month, a senior Ukrainian official said.
“About 5,000 people were buried, but the burials stopped 10 days ago because of continued shelling,” Tetyana Lomakina, a presidential adviser now in charge of humanitarian corridors, said.
She added that the number of people killed could only be estimated with bodies stuck under the rubble. “We could be talking about 10,000 dead,” she said.
Ukraine’s humanitarian needs are direst in the southern Mariupol, where Ukraine said that about 160,000 civilians remain encircled by Russian forces, desperate for food, water and medicine.
Ukraine’s foreign ministry said the situation there was “catastrophic” and Russia’s assault from land, sea and air had turned a city once home to 450,000 people “into dust”. — NNN-AGENCIES
