UKRAINE’S economy contracted by 29.1% last year, the state statistics service said, as the country continues to be ravaged by Russia’s assault.

By comparison, the pro-Western country’s GDP grew 3.4% in 2021 prior to the invasion ordered by Russian President Vladimir Putin in February last year.

Moscow’s war has killed tens of thousands, prompted millions to flee and battered swathes of the economy.

Construction was the hardest-hit sector as it shrank by 67.6% last year, the state statistics service said late yesterday. 

The World Bank has said Ukraine needs US$411 billion (RM1.8 trillion) for its reconstruction and recovery in the wake of Moscow’s invasion in February last year.

Russia damaged more than 50% of Ukraine’s power infrastructure in attacks on its neighbour over the autumn and winter months, the global lender said. – AFP, April 13, 2023.