Ukrainian President Volodymyr Zelensky told the World Bank and the IMF on Thursday that his country has already suffered more than half a trillion dollars’ worth of damage and needs billions in aid every month just to stay afloat. Kiev authorities estimate the country’s GDP is down anywhere between 30-50%.
“According to very preliminary estimates, Ukraine has lost 550 billion dollars as a result of destruction,” Zelensky said in a teleconference roundtable with Western financial institutions. Ukraine needed at least $7 billion per month to rebuild its economy, he added.
This is the same figure Zelensky cited to EU Commission President Ursula von der Leyen last week, though at the time he claimed it was just to enable his government to pay out salaries and pensions.
“With your support, we will quickly rebuild our nation, which means new business opportunities from various countries,” he told his audience.