As Ukraine’s economy burns, Russia clings to a semblance of prosperity


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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. The figures are stark. 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...