According to forecasts, Ukraine’s economic output will fall by 35 percent in 2022.
(Photo: AP)
Russian rockets and shells don’t just destroy houses and kill people. They are also hitting the Ukrainian economy hard. In the few months of the war, trade turnover within the country has fallen by 75 percent. This means: Ukrainians have produced, sold and consumed only a quarter as many goods as before February 24th.
Ukrainian exports fell by almost half, and with them foreign exchange earnings of the Ukrainian treasury. The International Monetary Fund (IMF) and the Ukrainian government agree on the forecast: In 2022, economic output will fall by 35 percent.
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