: :inin Kyiv (EET)

Undeclared war takes Ukraine’s economy down


The undeclared war takes down Ukraine’s economy and its financial sector so that it requires assistance from international partners.
Ukraine’s Finance Minister Natalie Jaresko announced the news on the air of “Ukrainian radio” on Wednesday,” the press service of the ministry has reported.
“International partners realize the undeclared war with Russia costs us dearly. We have about 850,000 internally displaced persons, 20% of the economy such as infrastructure, land, industrial sector have suffered damages . Additionally, we still finance and provide the occupied territories with heating, gas, electricity but these expenses remain unpaid. The total cost of current heating season amounts to about one billion US Dollars. The price tag is enormous for us but we are defending the sovereignty and territorial integrity of our country. I think the international community understands our situation,” she said.
The minister highly appreciates relations with international partners and she can seek compromises and mutual benefits while working with them.
“Last year was extremely difficult for Ukraine. The New Year kicked off with similar challenges. We face a quite difficult financial situation that requires assistance from international partners. We have already received the first positive signals. The European Commission decided to lend Ukraine 1.8 billion Euros. Germany gave us about 500 million Euros in loans when we were together with the Prime Minister on an official visit to Berlin. Also, the US government announced additional $2 billion in guaranteed credits on Ukraine’s eurobonds,” Jaresko said.
According to the minister, international assistance demonstrates confidence of foreign financial institutions that the government of Ukraine operates correctly and reforms will be put into practice. Moreover, there are many reasons why Ukraine needs assistance such as financial obligations made by previous Ukrainian governments, she said.

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