The Russian invasion, which has been underway for just over one month, has already inflicted nearly $565 billion of economic damage on Ukraine so far, its government estimated on Monday.
Economy Minister Yulia Svyrydenko said on Facebook that the $564.9 billion (515.8 billion euros) estimate includes immediate damage plus expected losses in trade and economic activity.
"It should be noted that every day the numbers change and unfortunately they are increasing," said Svyrydenko, who is also a deputy prime minister.
Damage to public and private property – with Russian forces resorting to fierce bombardments that have leveled some cities as their invasion, which began Feb. 24, has stalled – was the biggest element.
Svyrydenko said public infrastructure losses, including damaged roads, railways and airports, totaled $119 billion, while damage to private property including housing was up to $90.5 billion.
Damages and losses suffered by private firms was put at $80 billion.
Svyrydenko estimated gross domestic product (GDP) in 2022 would be down by $112 billion, which would be a drop of more than 55% of Ukraine's economic activity from last year.
Ukraine's government will likely miss out on $48 billion in tax revenue, or just about all of what it was expecting to take in this year.
Meanwhile, $54 billion in foreign direct investment will likely not materialize.
Svyrydenko said Ukraine's government would seek to confiscate Russian assets seized in the country as compensation.
"Ukraine, despite all the obstacles, will seek to exact compensation payments from the aggressor," she said.
