NBU estimates Ukraine's losses from destroyed housing, business, infrastructure due to Russian aggression at 50% of 2021 GDP
The National Bank of Ukraine (NBU) estimates Ukraine's losses from destroyed housing, business and infrastructure due to Russian aggression at 50% of GDP in 2021, or $100 billion, according to a financial stability report published on the central bank's website on Tuesday.
"In addition to lowering current production, the war significantly reduces the potential of the economy. According to the NBU, the loss of physical capital from the destruction of enterprises, housing and infrastructure reached $100 billion at the beginning of May, which is the equivalent of 50% of GDP in 2021," the NBU said in the report.
In addition, the loss of human capital due to migration and the death of citizens is significant, the central bank said.
"Due to the high uncertainty, investment activity has actually been suspended. To recover from the consequences of the war, the economy may need a very long period and assistance from international partners," the NBU said.
According to the central bank, since February 24, Ukraine has received about $7.4 billion. The volume of assistance provided and announced by partners as of the middle of June is about $30 billion.