The Russian invasion has so far destroyed $100 billion worth of Ukrainian roads, bridges, businesses and other assetsKyiv is head economic advisor announced Thursday, representing a blow for the country economy.
“Currently, about 50% of our companies are not operatingand those who are still operating are not operating 100%,” said Oleg Ustenko, chief economic adviser to Ukrainian President Volodymyr Zelensky.
“The situation in terms of economic growth going to be really, really depressing, even if the war stops immediately,” he said. in a virtual speech at the Peterson Institute for The international economy.
Ustenko repeated son call for European and other governments must reduce off that of Moscow access to “blood money”by boycotting Russian oil and natural gas.
“Europeans are still paying for this monster in order at kill our innocent people people,” he said.
While European nations matter on Russian energy for heat”I can assure you it’s much, much, much colder in the basement of Ukraine where the people are hidden.”
the official praises the United States for stop imports of Russian oil and said he hoped that Washington also help to create a “recovery funds” for Ukraine.
Kyiv also could use the approximately 300 billion dollars in russian central bank frozen reserves as result of Western sanctions, as well as funds seized from the oligarchs who are allies of President Vladimir Putin.
“We must rebuild the economy,” he said.
The Monetary Fund international on Wednesday approved $1.4 billion in fast-payment of aid for Ukraine and the World Bank released nearly 500 millions of dollars of what is expected to be $3 billion in funding package.
Additionally, the U.S. Congress on Wednesday approved $14 billion in aid for Ukraine.
Asked about resilience of Ukraine financial systemet bank payment transactions, Ustenko said: “Look, we are doing, I would say, OK under the current terms.”
He said that Ukraine’s budgetary reserves are currently at around $27.5 billion, down of around 30 billion dollars before the invasion.
Despite some pressure on currency hryvnia, Ukrainians in areas not occupied by Russian forces may access cash via ATMs and supermarket cashiers without the long queues in the first two days of war and credit card and other electronic payment systems are operating normally, it added.
“Same in these cities now encircled by the Russian army… (the inhabitants) can use their cardsUstenko said. “(But) what we need more of all is more weapons and ammunition. It’s extremely important.”
