Rebuilding Ukraine after Russian invasion may cost $350 billion, experts say

FILE PHOTO: A local resident walks by a street market destroyed by military strikes, as Russia's invasion of Ukraine continues, in Saltivka, one of the most damaged residential areas of Kharkiv, Ukraine September 6, 2022. REUTERS/Viacheslav Ratynskyi

WASHINGTON (Reuters) -Russia's invasion caused over $97 billion in direct damages to Ukraine through June 1, but it could cost nearly $350 billion to rebuild the country, a report released Friday by the World Bank, Ukrainian government and European Commission shows.

It said Ukraine had also suffered $252 billion in losses through disruptions to its economic flows and production, as well as extra expenses linked to the war, while the displacement of one-third of all Ukrainians was expected to jack up its poverty rate to 21% from just 2% before the war.