Reports of possible Russian invasion cost Ukraine's economy $2-3B every month

By Talha Yavuz

KYIV, Ukraine (AA) - Ukraine has been losing approximately $2-3 billion every month owing to news of a possible Russian attack on the country, a senior official said.

In an interview with the RBK Ukraine daily published on Monday, Rostislav Shurma, deputy head of the Office of the Head of State, said since reports emerged that Russia is amassing troops along the eastern border in preparation for an attack, Ukraine has suffered losses in the form of new investments, which have now been halted.

Rising inflation, a decline in the number of tourists visiting the country, and flight cancelations all contributed to the losses, Shurma added.

Moreover, there is also a speculative pressure of $1.5-2 billion in the foreign exchange market.

He added that an additional $4-5 billion is needed to finance the previously planned state projects.

While Russia has been accused of a possible invasion of Ukraine by western countries in recent months, Moscow has denied any plans to invade instead of stationing thousands of troops on the Ukrainian border.

*Writing and contributions by Gokhan Ergocun in Istanbul