Ukraine minister: Blackouts could lead to bigger GDP contraction in 2022 ...Middle East

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Ukraine minister: Blackouts could lead to bigger GDP contraction in 2022
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Ukrainian Economy Minister Yulia Svyrydenko on Wednesday said Russia’s attacks on civilian infrastructure and rolling blackouts could result in a bigger contraction of gross domestic product in 2022 than the earlier forecast of a 35% drop. ​ Svyrydenko, in Washington to meet with senior U.S. officials, told reporters the Ukrainian government would continue to need foreign budgetary assistance, but was also taking steps to reduce costs by cutting staff and privatizing smaller state-owned enterprises. Ukrainian President Volodymyr Zelenskiy last month said his country would need $38 billion to cover next year's expected budget shortfalls, and an initial $17 billion to begin work on the most ur

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