![]() ![]() Meanwhile dozens of coalminers had to be rescued after an electricity failure left them trapped underground. The Washington Post said that two of Ukraine’s biggest steel plants, in the south-east of the country, had to shut down last month due to power cuts. The targeting of Ukraine’s energy infrastructure began in earnest in mid-October, and has led to regular blackouts and restriction of supplies since. Inflation has already reached 20%, and one forecast shows that the economy could contract by 5% next year, on top of the 33% this year after the invasion. There are concerns that Ukraine could end up in a balance-of-payments crisis if it does not have the international reserves to pay for key imports and to meet foreign debt obligations. The report in the Washington Post said that Ukraine needs another $2bn a month on top of the $55bn already projected for next year to meet basic expenses. Electricity blackouts due to Russian missile and drone attacks on Ukraine’s power infrastructure are crippling its economy, including in key sectors including mining and manufacturing. ![]()
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