Damages caused by war may reach $700B by year-end – PM Shmyhal

Prime Minister of Ukraine Denys Shmyhal said this at the forum on the resilience and reconstruction of Ukraine, an Ukrinform correspondent reports.

The Prime Minister noted that according to the estimates of the Ukrainian authorities, which were carried out together with the World Bank, the amount of damage caused to Ukraine’s economy came to $350 billion as of June 1.

"By the end of the year, this amount will obviously double. We understand this, as the destruction continues," Shmyhal said.

The Prime Minister emphasized that all sectors of Ukraine’s economy are suffering because of the war.

As reported, Prime Minister Denys Shmyhal earlier stated that the fall in Ukraine's GDP could reach 50% next year if Russia continues its terror.