The World Bank has increased the reconstruction cost and Ukraine’s GDP decline.
Monday, December 5, 2022

The World Bank has increased the reconstruction cost and Ukraine’s GDP decline.

According to the Vice President of the World Bank, Anna Bjerde, the post-war reconstruction of Ukraine will cost about €500-600B. She recalled that the previous estimate, as of the beginning of June, was €350B. According to Bjerde, the reconstruction of Ukraine requires an extensive plan like the Marshall Plan, and it should combine public and private money. The vice-president of the World Bank noted that before the attacks on civilian infrastructure, the bank predicted a drop in Ukraine’s GDP this year by 35%, but now this indicator may be higher – up to 40%. “Without infrastructure, there is no economy, and therefore, no tax revenues for the Ukrainian state. This is a very alarming situation,” said Bjerde.

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