Ukraine is paying a high humanitarian and economic toll as a result of the Russian invasion on February 24, 2022. The war has displaced about 6.3 million Ukrainians, out of a pre-invasion population of 42 million. Ukraine’s economy has shrunk by almost one third in 2022 due to Russia’s annexation of territory from Ukraine, destruction of buildings and infrastructure, and the shrinking labour force as a result of army conscription and people becoming displaced. The future course of the war remains uncertain, but the conflict is currently at a stalemate. The most likely eventual outcome seems a ‘frozen’ conflict comparable to that between North and South Korea at the end of the Korean War (1950-1953). The latter ended with a ceasefire, but no formal peace treaty.
Learn more here: https://atradius.ca/reports/economic-research-ukraine-external-support-january-2024.html
