Ukraine's Economy Could Shrink 40% in 2022 Owing To Russian Invasion

Russia Ukraine War, Ukraine Economy: Ukraine's economy shrank 16% year-on-year in the first quarter of this year and could contract 40% in 2022 as a result of Russia's invasion, the economy ministry said in a statement.

Ukraine's economy shrank 16% year-on-year in the first quarter of this year and could contract 40% in 2022 as a result of Russia's invasion, the economy ministry said in a statement on Saturday, citing preliminary estimates.

"Areas in which remote work is impossible have suffered the most," it said.

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