Inside a prison where Russia tortured Ukrainian POWs
The Olenivka POW camp, located in the Russian-occupied part of Donetsk Oblast, was a notorious Russian-controlled prison where Ukrainian prisoners of war and civilian hostages from Mariupol have been subjected to torture. The Kyiv Independent’s War Crimes Investigations Unit will name those responsible for torturing prisoners in Olenivka.
Skip to content
Edit post

National Bank: Ukraine’s GDP to fall by one third in 2022; Russian attacks on energy system imperil economy

by Dinara Khalilova December 27, 2022 5:36 PM 1 min read
This audio is created with AI assistance

Ukraine’s economy will grow more slowly than expected in 2023 due to Russian mass attacks on Ukraine's energy infrastructure, according to the National Bank's report presented on Dec. 27 by Kateryna Rozhkova, the bank’s deputy head.

Ukraine’s GDP will fall by nearly a third by the end of this year, according to the National Bank.

Constant Russian large-scale attacks and destruction of the country’s energy infrastructure increase the risks for financial stability.

“Although the financial sector works without interruption, it suffers corresponding losses. These are lost revenues and additional costs for arranging branches to work during blackouts,” said Rozhkova.

Russian attacks on Ukraine’s critical infrastructure also reduce the demand for banking services and lead to additional credit losses, according to the official.

Meanwhile, the international aid Ukraine has received is allowing it to reduce the budget’s monetary financing rate, Rozhkova said, adding that NBU hopes “to avoid such a tool altogether next year.”

Russian forces have fired more than 1,000 missiles and drones at Ukrainian energy infrastructure since Oct. 10, according to Ukrenergo head Volodymyr Kudrytskyi. The attacks killed dozens of people and forced authorities to impose blackouts.

The Kyiv School of Economics reported that Russia had inflicted $136 billion damage to Ukraine’s residential and non-residential real estate and other infrastructure as of November.

Intensified Russian attacks on Ukraine infrastructure unlikely to achieve Kremlin's goals
Support independent journalism in Ukraine. Join us in this fight.
Freedom can be costly. Both Ukraine and its journalists are paying a high price for their independence. Support independent journalism in its darkest hour. Support us for as little as $1, and it only takes a minute.
visa masterCard americanExpress

News Feed

3:43 AM

Russia shells 4 communities in Sumy Oblast.

Russian forces attacked four communities along the Sumy Oblast border on Dec. 8, firing 6 times over the course of the day, the Sumy Oblast military administration reported.
Ukraine Daily
News from
Ukraine in your
inbox
11:00 PM

Zelensky signs 4 laws required for EU accession.

However, the law on reforming the Specialized Anti-Corruption Prosecutor's Office (SAPO) signed by Zelensky failed to fully repeal the so-called Lozovyi's amendments, which are thought to help those suspected or accused of corruption to avoid responsibility.
7:32 PM

International Maritime Organization to send mission to Ukraine.

"This decision, as well as the non-election of Russia to the International Maritime Organization Council for 2023-2024, shows the protection of the international maritime community's right to free navigation of every country," said Infrastructure Minister Oleksandr Kubrakov.
6:27 PM

Russians, Belarusians to be allowed to compete as neutral athletes at 2024 Paris Olympics.

Under the rules, Russian and Belarusian athletes will not be able to participate as teams nor display any flags or any official identification with either country. Athletes or support personnel who have openly supported the war will not be allowed, as will anyone who has served or is affiliated with either the military or security organizations of Russia or Belarus.
5:39 PM

Prosecutors: Ukrainian spy who coordinated Russian attacks in Odesa identified.

According to the prosecutors, the individual began spying for Russia in October and was tasked with taking pictures of the locations of Ukrainian troops, as well as defense and energy infrastructure in Odesa, which he then sent to his Russian contacts. He also allegedly photographed the aftermath of Russian strikes in the oblast so that future Russian attacks could be corrected for a more accurate result.
MORE NEWS

Editors' Picks

Enter your email to subscribe

Please, enter correct email address

Subscribe

* indicates required
* indicates required

Subscribe

* indicates required
* indicates required

Subscribe

* indicates required

Subscribe

* indicates required
Successfuly subscribed
Thank you for signing up for this newsletter. We’ve sent you a confirmation email.