Ukraine’s finance minister warns of economic collapse


While Russia reaffirms its goal of completely subjugating Ukraine in both east and south, Ukrainian Finance Minister Marchenko describes the disastrous economic consequences of the war for its own people. He also warns of implications for the EU.


The Ukrainian Finance Minister Serhiy Marchenko has warned of a collapse of the economy in view of the war in his country. The “Spiegel” quoted the minister as saying that three quarters of his country’s gross domestic product had already been lost since the fighting began. Accordingly, he expressed himself in conversation with his counterparts in the Eurogroup, according to participants at their recent meeting in Luxembourg.


According to Marchenko, 64 percent of workers in Ukraine were recently no longer able to do their actual work. The income of the Ukrainian state has fallen sharply and the gap is widening with every day of war, the news magazine continued, quoting the minister.


Marchenko was connected via video to the meeting the week before last. According to the report, during the talks he also warned the Europeans of “catastrophic effects, also on the EU” if Ukrainian farmers were not able to sow by May. Almost ten percent of global grain deliveries recently went to Ukraine.


Russia pushes “second phase” of war


In this country, the fear of bottlenecks because of the Ukraine war has already led to panic buying. There were recently empty shelves for sunflower oil and flour, among other things. Some supermarkets have been forced to ration taxes per household.


Russia, meanwhile, underlined its goal of gaining full control over the entire Donbass and the south of the country in the war against Ukraine. This has been one of the army’s tasks since the beginning of the “second phase of the special operation,” Major General Rustam Minnekayev said today, according to Russian news agencies. With the conquest of the Donbass and the south, a “land connection” to the annexed Crimean peninsula could be created, according to Minnekayev.


© 2022 DR TV



  1. A very sad and bleak article indeed. So sorry for Ukraine’s terrible predicament. The help she is receiving needs to increase. By a factor of 500%.

    Liked by 2 people

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.