Ukraine Rapid Damage and Needs Assessment (Feb 2022-Feb 2023)

This assessment is part of an ongoing effort to take stock of Ukraine’s damage and losses from Russia’s invasion and it aims to assess the scale of economic and social needs for Ukraine’s survival during the war and it's prosperity afterward. 

Considering a full year of war, as of February 24, 2023, direct damage in Ukraine has reached over US$135 billion, with housing, transport, energy, and commerce and industry the most affected sectors. Disruptions to economic flows and production, as well as additional expenses associated with the war, are collectively measured as losses and amount to some US$290 billion. Ukraine’s gross domestic product (GDP) shrank by 29.2 percent in 2022, and poverty increased from 5.5 percent to 24.1 percent in 2022.

Reconstruction and recovery needs, as of February 24, 2023, are estimated at about US$411 billion. Integrated into reconstruction and recovery needs are critical steps toward becoming a modern, low-carbon, disaster- and climate-resilient country. The report also estimates the implementation priorities for 2023 at around US$14 billion. These are focused on the most urgent needs, including restoration of energy, housing, critical and social infrastructure, basic services for the most vulnerable, explosive hazard management, and private sector development. Direct government expenditure will lay the groundwork for a safe, prioritized, achievable, and efficient reconstruction and recovery. This will be complemented by investments by state-owned enterprises (SOEs) and support to sustain and catalyze the private sector, including de-risking investment and trade.