War hits Ukraine economy



Not only is the eight-year-long war in the east eating up federal budgets, it is also challenging the economy.

According to the World Bank, Ukraine’s GDP fell 18 percent between 2013 and 2020.

Foreign investors have frozen funding and unloaded Ukrainian bonds, sending their interest rates soaring.

“Ukraine can’t afford to spend much money on buying weapons,” says Tseluyko.

The US has promised Kyiv $200 million of equipment amid heightened tensions with Russia. /CGTN Europe

Russia developing more weaponry

“To defend ourselves from these precision weapons, Ukraine needs an effective anti-missile defense system,” says Tseluyko.

However, Moscow says the delivery of the THAAD system would “be another step towards destabilization.”

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