The cost of direct damage to Ukraine's infrastructure amid Russia's ongoing invasion has reached almost an estimated $63 billion, according to an analysis by the Kyiv School of Economics.
The latest analysis shows that, as of March 24, at least 4,431 residential buildings, 92 factories and warehouses, 378 institutions of secondary and higher education, 138 health care institutions, 12 airports, seven thermal power plants and hydroelectric power plants have been damaged, destroyed or seized in Ukraine since the start of the Russian invasion on Feb. 24 -- totaling an estimated $62,889,000. Compared to the previous estimate published on March 17, net growth amounted to $3.
Meanwhile, Ukraine's overall economic losses due to the war -- taking into account both direct losses calculated from the project as well as indirect losses, like GDP decline -- range from $543 billion to $600 billion, according to an estimate by the KSE Institute and the Ukrainian Ministry of Economy.
Before updating its calculations, the KSE Institute said it received"detailed data" from the Ukrainian Ministry of Infrastructure on the destruction of its facilities, which allowed analysts to clarify and, in some cases, reduce the assessment of losses.A heavily damaged apartment building is pictured at a front line discrict of Kharkiv, Ukraine, on March 27, 2022, amid the Russian invasion.
The KSE Institute said it has improved the methodology of assessing losses from the destruction of residential real estate"based on the World Bank’s experience in analyzing losses in Syria and Iraq, as well as the recommendations of the leading Ukrainian investment company Dragon Capital." "These calculations are based on the analysis of several thousands of public notifications from Ukrainian citizens, the government, local authorities about losses and damages throughout the country, as well as indirect assessment methods such as calculating the estimated area of the war-damaged property in the most affected cities," the KSE Institute said.
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