The Russian invasion of Ukraine and the resulting slowdown in economic activity wiped out 5% of corporate deposits in two weeks, the troubled country's central bank said.
In written comments to Reuters, the Ukrainian CB said most of the total 40 billion hryvnias ($1.35 billion) had been withdrawn from banks to pay salaries and taxes and that their reserves had not been restored.
"At the same time due to the slowdown in economic activity, the flow of money into (corporate) accounts has slowed down significantly," he added.
(CNA)
CNA - Reuters
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