Ukraine’s economy is collapsing under the weight of Russia’s invasion.
A recent report by the Kyiv School of Economics revealed that direct and indirect losses from the war range from $564 billion to $600 billion (€568 billion), and could increase even further as the conflict drags on.
By comparison, the US-led Marshall Plan that brought Western Europe out of the devastation after World War II had an original price tag of $13 billion, equivalent to over $155 billion in current prices.
With damages mounting across the country, Ukrainian President Volodymyr Zelenskyy is asking Western countries to provide the government with at least $5 billion a month to pay for essential services and keep the economy afloat.
“This is a lot for our state. This is not possible for Ukraine. But this is possible for you,” Zelenskyy told G7 leaders in video call last week.
All eyes turn now to Brussels, where a recovery fund is in the works. But the EU cannot foot the bill alone.
Watch the video above to learn more about Ukraine’s post-war reconstruction.