Ukraine’s PM: Damage caused by war already exceeds Ukraine’s GDP by 1.6 times

The damage caused to Ukraine by the russian war has already exceeded the GDP of our country by 1.6 times.

Prime Minister Denys Shmyhal said this at a conference call with the RMA heads.

"The situation with losses is recorded as of June. According to this report, the need for funds is 349 billion dollars, almost 350 billion. Of course, this amount is more than the GDP of our state for the past year. The amount is 1.6 times greater than GDP. Of course, we understand that, first of all, financial resources are needed for rapid reconstruction, rapid recovery, social infrastructure, critical infrastructure, and preparation for winter," Shmyhal said.

According to him, this report was prepared in close cooperation with specialists from the World Bank, the European Commission, and the government.

In addition, the meeting participants paid attention to the restoration of critical infrastructure and preparation for the heating season.

"It will be a difficult heating season. We need to prepare and coordinate," the Prime Minister emphasized.

Shmyhal is convinced that synchronizing the central and local authorities is the key to a stable passage of the winter period and further reconstruction of the country.

On September 9, the World Bank, the European Commission, and the government of Ukraine, in cooperation with partners, presented a joint report with an objective and independent assessment of the current needs for the reconstruction and restoration of Ukraine in the amount of $349 billion.