Factories destroyed. Roads blown to pieces. Power plants put out of action. Steel exports decimated. A flood of refugees out of the country. Ukraine – the poorest country in Europe – has paid a heavy economic price for a two-year war against Russia waged almost entirely on its own soil.
More than 7 million people – about a fifth of the population – have been plunged into poverty. Fifteen years of human development have been lost. In the first year of the war, the economy contracted by 30%.
Yet it could have been even worse. Beata Javorcik, chief economist at the European
