Ukraine's reconstruction cost estimated at $349 billion

The current cost of reconstruction and recovery in Ukraine is estimated at 349 billion dollars.

https://twitter.com/Quicktake/status/1568371455955734529 In a joint statement by the Ukrainian government, the European Commission and the World Bank, the results of the Ukraine Rapid Damage and Needs Assessment report were shared. In the statement, it was stated that the cost of Ukraine's current reconstruction and recovery is estimated at 349 billion dollars, which is more than 1.5 times the country's gross domestic product in 2021. Noting that the amount in question is expected to increase in the coming months as the war in the country continues, the statement said that the assessment covers the effects of the war that lasted between February 24 and June 1, and that the physical damage caused by the war exceeded 97 billion dollars. In the statement, it was noted that the damage was particularly high in the housing, transportation, trade and industry sectors, and that the destruction was concentrated in Chernihiv, Donetsk, Luhansk, Kharkiv and Zaporizhia. It was assessed that $105 billion is needed to meet urgent needs such as restoring education and health systems and infrastructure, providing heating and energy to residences, supporting agriculture and repairing vital transportation routes in the next 36 months. Pointing out that the Rapid Damage and Needs Assessment provides the first comprehensive assessment of the effects of the war in 20 different sectors in the country after Russia's attack, the statement said that it also reveals the financing needs for a resilient, inclusive and sustainable recovery and reconstruction and provides a roadmap for planning. The statement said that these findings are the preliminary results of the assessment and that the damage and needs should be considered as minimal. Follow Global Economic Developments on Social Media! Click here to follow Ieconomy official Facebook account! Click here to follow Ieconomy official Instagram account! Click here to follow Ieconomy official Twitter account!