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It will cost a gigantic amount to restore Ukraine

This is equivalent to 2.6 times Ukraine’s estimated gross domestic product (GDP) last year. According to the report, the amount projected for the next decade also includes inflation, market conditions, and insurance premiums.

The priority reconstruction costs for this year amount to at least 14 billion dollars (5 thousand billion forints). In the case of these, it is about covering needs such as energy supply, housing, critical and social infrastructure, as well as the restoration of basic services.

The statement of damages and restoration costs does not yet include the loss of infrastructure, homes and businesses in the occupied territories”

– stressed Ukrainian Prime Minister Denisz Smihal.

According to the document, the Russian war, which started more than a year ago, has already caused at least 135 billion dollars (49 thousand billion forints) in financial damage to Ukraine. The housing (38 percent), transport (26 percent) and energy (8 percent) sectors were most severely affected.

The country’s financial losses amounted to 290 billion dollars (105 thousand billion forints).

The calculations took into account the period from the start of the war on February 24, 2022 to February 24, 2023. According to the document, Ukraine’s GDP shrank by 29.2 percent in 2022, while the poverty level rose from 5.5 percent to 24.1 percent.

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