Losses from the actions of the Russian occupants in Ukraine amount to one-third to half of GDP. Such data was announced by Minister of Finance Serhiy Marchenko in an interview with Forbes published on the website of the CMU.
"The 10 regions where there are hostilities account for half of the GDP. The most important area is Kharkiv, Kiev and Mariupol, which contributed very much to GDP. Many logistics chains are completely broken, many enterprises are physically destroyed, some cannot operate in war mode, and many workers have simply left. The Ministry of Economy believed that the losses would amount to a third to half of the GDP. Another estimate was about $500 billion. It will be possible to calculate exactly only after the war," Marchenko said.
The Minister noted that Ukraine currently has huge budget expenditures, while the revenues have sharply decreased. The customs authorities manage to collect only 15% of peacetime revenues.
At the same time, according to Marchenko, on other revenues "not everything is clear-cut."
"In the first days, the National Bank transferred some revenues, state banks paid dividends, and many businesses paid taxes in advance. All this made it possible to reimburse the VAT, make social payments and service the debt," says the head of the Ministry of Finance.
In addition, he claims that the idea of restructuring or writing off debts was categorically rejected.
"The logic is simple: if you want to accept new loans, please service the old ones carefully. Especially since this year we have no particular problems with servicing and repayment of debt. The largest payments are in September - $900 million, in the remaining months - in the range of $100-150 million," he added.
Earlier, because of Russia's attack, the International Monetary Fund forecasts a 10 percent decline in Ukraine's real GDP in 2022.