Description:
The full-scale Russian invasion of Ukraine has inflicted massive damages and losses on Ukrainian agriculture and terminated or even reversed the growth of the last twenty years. This article makes an interim assessment of the financial consequences of the war-related damages and losses in Ukrainian agriculture. The assessment is performed based on data from regular monitoring by the Kyiv School of Economics. The estimated damages to physical assets caused by Russia’s invasion have been found to total $10.3 billion, while economic losses have reached almost $70 billion. With an estimated 16 million hectares being at risk of landmine contamination, the estimated cost of demining Ukraine’s agricultural lands ranges from $12.8 to $26.6 billion. The reconstruction and recovery needs of the agricultural sector beyond this demining are in turn estimated at $56.3 billion.