The war has strengthened Ukraine's economy dependent on foreign aid from default on debt before the war and a surge in debt.
Ukraine's public finances, which have been shaken the most during the 30 years of independence from Russia in the Ukraine War, are absolutely dependent on support from the United States, the European Union, individually donating European countries and other donors, with Russia claiming about 1/40 of Ukraine's territory. The economy is expected to shrink by about 40% this year as it occupies and ruins cities with cruise missiles and hits key industries such as steel manufacturing and agriculture, the New York Times said on Wednesday.
The Central Bank of Ukraine has struggled to raise money from the bond market since the Ukrainian government was unable to overdue the debt it had accumulated before the Russian invasion in late February before the war, and has since collected more than it has collected from bond sales to investors in the war situation. It said on the 26th that it paid about $ 2.2 billion more to the NYT.
In this article, the NYT said that the Russian economy also suffered from a 10-month war, but it did not collapse under the pressure of Western sanctions. It avoided real domestic pressure that could threaten its leadership.”
The most visible and dramatic impact has been in manufacturing, a sector that employs 10 million Russians, which has been central to President Putin's ambitious program to diversify the economy away from its reliance on oil and gas exports. The automobile industry accounts for a large percentage of its workers
On the 5th, the NYT said about changes in the Russian economy, “the most dramatic impact will be on manufacturing, which employs 10 million Russians.” They make up a large percentage of workers,” he said.
The NYT continued, “Since the war, the IMF has raised its economic outlook for Russia twice and, similar to the government’s forecast, forecast a 3.5% decline in gross domestic product this year.” This is in stark contrast to the double-digit collapse of Venezuela's economic output following the 2019 wave of US sanctions."
Russian AvtoVAZ affiliate Kamaz has announced the resumption of production of Soviet-era car brand Moskvich Muscovite and others, using the Moscow plant vacated by French Renault after the war.
Russian car sales plunged 60% year-on-year until the third quarter, and the main reason is that the Russian industry is highly dependent on Western parts, and the NYT is reenacting the former Soviet economy by excluding certain devices such as passenger cars without airbags. revealed
Ukrainian Foreign Minister Dmitro Kuleva told the Associated Press on the 26th that UN Secretary-General António Guterres was the mediator at the UN, saying he wanted a peace summit within two months. You can mediate only when you want," he said on the same day, and diplomatic negotiations failed.
On the 27th, fierce fighting broke out in the Russian-occupied city of Kremina in eastern Ukraine, and President Zelensky said in a speech to Kremina, "The situation there is difficult and serious. The occupiers are using all their available resources to squeeze at least some progress." and this is a considerable resource," he said, revealing the 'resource war'.
“Ukrainian artillery use is conservatively about 90,000 rounds a month,” said Michael Koffman, director of Russian studies at the Virginia National Laboratory (CNA). So all of this is coming out of stocks, which is like looking into a savings account. I don't blame them Their war effort is basically dependent on external material support," he said in the podcast.
Russian President Putin on the 27th signed the "Oil Export Ban Decree" against countries that support the $60 per barrel crude oil price ceiling declared by the European Union and the G7 countries to reduce imports from Moscow during wartime. comes into effect
The potential impact of the Putin ban is uncertain, the Associated Press said, as the price cap price in the West has been higher than the international selling price of Russian oil in recent weeks.
Chinese Foreign Minister Wang Yi said at the "2022 International Situation and China Diplomacy Symposium" in Beijing on the 25th, "China will strengthen strategic mutual trust and mutually beneficial cooperation with Russia." have been China's economy has plummeted because the United States has stubbornly viewed China as its main competitor and has continued to openly blockade, repress and provoke China."
President Zelensky visited the U.S. from Poland on a U.S. military aircraft on the 21st and announced an additional $1.85 billion in military aid, including JDAM-guided bombs and Patriot missiles, at the White House summit.
Aid from Ukraine's national budget of 40 billion dollars, including military aid, humanitarian aid, and financial aid for 10 months from February 24 to November 20 this year, is 2.3 times the size of 91.5 billion dollars.
As for financial aid, by November 20, the United States amounted to 13.56 billion euros (75.6% of the total), and by the end of September, 55.8% of Ukraine's national budget was covered by foreign financial support. KOTRA announced on the 28th that it accounts for a quarter of the total.
Arms support was linked to the US and Poland with 60.4% of the US, 10.9% of the UK, 6.2% of Germany, and 4.8% of Poland.
<Ukraine-sponsored guided bomb JDAM applied to Korean fighter jets, Polish ‘export’, see Dec. 24, 2022>