The National Bank of Ukraine had forecast a 32 percent GDP decline in 2022 but it is expected to decline further as Russia continues striking with long-range missiles targeting critical infrastructure.
The ongoing Russian strikes on Ukrainian infrastructure seriously aggravate the economic situation in the country: GDP continues to fall, leading to growing unemployment.
On Nov. 23, Russia launched another massive missile strike on Ukraine’s critical infrastructure, which caused blackouts throughout the country, including in the capital Kyiv, leaving millions of people without power, water, heating and telecommunications.
Ukraine’s President Volodymyr Zelensky said Friday that over six million households in the country are still affected by power cuts.
The blackouts have forced most of Ukraine’s businesses to suspend operation. Many food stores, pharmacies and cafes without access to power generators have closed.
The systematic and targeted Russian attacks over recent weeks have brought Ukraine’s energy infrastructure to its knees as winter approaches, spurring fears of a health crisis and a further exodus from the war-torn country.
Ukraine’s Western allies have denounced the Russian attacks on energy as a “war crime.”
Moscow insists it targets only military-linked infrastructure and blamed Kyiv for the blackouts, saying Ukraine can end the suffering by agreeing to Russian demands.