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More than half of the companies in Ukraine have suspended their activity after the outbreak of the war, said on Thursday, the director of the Ukrainian-Romanian Business Center in Chernivtsi, Liviu Rusu.
According to the latter, more than a quarter of all Ukrainian factories, mainly concentrated in the developed regions of Ukraine, were destroyed by the Russian army bombings.
"Unfortunately, the economic situation is not different from other areas. Since the country is at war, an economic crisis has begun, a huge crisis. At present, 54 percent of all economic agents in Ukraine have suspended their activity. About 37 percent of the industrial producers were completely destroyed, as well as all the production units," said Rusu.
At the same time, he stated that the Ukrainian currency, the hryvnia, has depreciated by 10-12 percent against the US dollar or the single European currency.
"This decline can only be stopped by foreign financial resources. Why? Because the currency in Ukraine comes from exports. Exports were organized through seaports, the port of Mariupol, the Nikolaev area, areas where heavy fighting is currently taking place and these exports cannot be carried out," Rusu said.
The head of the Ukrainian-Romanian Business Center points out that, under wartime conditions, it will not be possible to work the agricultural lands, something that will cause great losses to Ukraine. More than 30 percent of the world's exports of sunflower and soy come from Ukraine.
"Obviously, this crisis will deepen primarily because the fighting is currently going on in the East, South, North of Ukraine, areas that have had a very strong agricultural development. Let us not forget that Ukraine is one of the largest agricultural producers in the world. 10 percent of all wheat exports worldwide come from Ukraine. In war conditions, the land cannot be plowed and sown, so this harvest will no longer be, and in all countries that depend on Ukraine, there will be an increase in food prices," the director of the Ukrainian-Romanian Business Center added.AGERPRES
