The five charts below analyze how the Russian invasion affected Ukraine’s economy and how the country managed its wartime budget.
economic hardship
The Russian aggression dealt an unprecedented blow to the Ukrainian economy. Gross domestic product (GDP) could grow 0.3% this year amid weak economic activity, according to central bank projections. The economy is expected to gradually pick up pace once security risks abate.
budget
Ukraine’s Central Bank and US Top Donor List
Ukraine’s budget got $51.3 billion in funding from bonds, loans and grants
Source: Ukrainian Finance Ministry
Ukraine relied on domestic and foreign resources for its war budget last year. Domestically, war bonds issued by the central bank and the Ministry of Finance were the main support. The biggest foreign backers were the United States, the European Union (EU), and the International Monetary Fund (IMF).
domestic funding
Central Bank Support for Government Is Ending
Ukraine’s government can no longer rely on the central bank to continue bond purchases as it did last year
Source: Ukrainian Ministry of Finance and central bank
The central bank of Ukraine, which played a key role in financing the country’s budget in the months after the invasion, cut bond purchases to zero in January. The government hopes that no additional support from the financial authorities will be needed.
military support
Military Aid Provided to Ukraine Since War Began
US is by far the biggest contributor
Sources: US Department of Defense, UK Parliament, German government, Polish Defense Ministry, Government of Canada, SVT TV, Australia Defense Ministry, Norwegian Government, Australian Government
Ukraine receives the largest amount of military aid from the United States. In Europe, the United Kingdom, Germany, and Poland ranked high.
revival
Ukraine War Damages
Ukraine estimates war-related damages at a total of $136 billion
Source: Ukraine’s Center of Economic Strategy
Ukraine estimates that civilian homes were the hardest hit by Russian missile and artillery attacks. Roads, bridges, power lines and power plants were also targeted. Environmental damage has also been devastating, with landmines polluting land and Black Sea dolphins being killed by naval operations.
news-rsf-original-reference paywall">Original title:Five Charts Showing Impact of Russia’s Invasion of Ukraine(excerpt)
