Counting the cost: Three years of conflict in Ukraine

CGTN Europe

It’s been three years since Russian forces entered Ukraine. The human cost of the conflict has been immense. But there’s also a massive financial cost - a cost that climbs every day that the fighting continues. CGTN’s Michael Marillier explains.  #ukraine #russia #economy

Transcript

00:00Both Russians and Ukrainians are paying for this conflict with their blood

00:04But there's also been a massive financial cost the World Bank said last year that Ukraine would need nearly

00:11490 billion dollars to rebuild infrastructure over the next decade

00:15That's more than double the size of its GDP in

00:192021 the year before the conflict began now Ukraine has also struggled to grow its economy

00:26It shrunk by nearly 30% in

00:292022 but has recovered slightly since then however it is still much smaller than it was just three years ago

00:37Meanwhile, Russia is set to pump

00:39145 billion dollars into its military this year. That's roughly a third of its entire national spending budget

00:47Russia says its economy grew just over 4% last year. That's despite a range of sanctions

00:54imposed by the West but its military spending has pushed up inflation it was

01:029.9% in January the highest level in nearly two years

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