Ukraine’s GDP grew by 1.1% (±1%) in June compared to June last year, while for the first half of the year, growth is estimated at 4.1% (±1%) compared to the same period last year, according to the press service of the Ministry of Economy. The main factor slowing economic growth was power outages, the ministry … Read more
Preliminary estimates suggest that Ukraine’s gross domestic product (GDP) increased by 6.5% in the first quarter of 2024 compared to the first quarter of 2023, Ukraine’s State Statistics Service reported on June 25. Russia’s invasion caused a major hit to Ukraine’s economy, which suffered a whopping 29.1% fall in GDP in 2022. The economy stabilized … Read more
The National Bank of Ukraine (NBU), previously incorporating into the baseline macroeconomic forecast certain timelines for “significant improvement in security,” has abandoned such an approach. However, instead, it published an alternative scenario in its April Inflation Report, the main difference of which is a slower economic growth in 2025 with a larger budget deficit, depreciation … Read more
Ukraine’s economy is likely to grow by about 4.6% in 2024, although Russian attacks could worsen this figure, Economy Minister Yuliya Svyrydenko said during the Kyiv Investment Day Forum. Svyrydenko stated that after a large-scale decline in the economy — by almost 30% in 2022 — growth began last year, which amounted to at least … Read more
The Ministry of Economy of Ukraine estimated the growth of the gross domestic product in March at the level of 4.6% +/- 1%, announced the Department of Strategic Planning and Macroeconomic Forecasting in the monthly overview of the main events in the Ukrainian economy. This is more than in January (3.5%) or February (3.9%). In general, … Read more
Ukraine’s economy rebounded by 5.3% in 2023, bouncing back from a record slump caused by Russia’s full-scale invasion, according to preliminary data from the State Statistics Service of Ukraine. This marks the highest growth rate since 2011. Here’s a breakdown of how the Gross Domestic Product (GDP) changed throughout 2023: → Q1: -10.3%;→ Q2: +19.2%;→ … Read more
President Zelenskyy announced the start of Ukraine’s new economic strategy, Made in Ukraine, which will become a platform for constant, direct dialogue between the state and entrepreneurs. He also announced that the government will develop a Ukrainian Cashback program, which will return a portion of money spent for purchasing goods and services produced in Ukraine, … Read more
According to the NBU, the Ukrainian economy will increase by 7%, and the GDP per person will be $15,500 within a decade after the country’s accession to the EU with the rapid implementation of all necessary reforms. Under a partial implementation of reforms, the economy can grow by about 4% for ten years, and GDP … Read more
The growth of Ukraine’s GDP in 2024 will slow to approximately 4% from almost 6% in 2023, with an increase in inflation to 8% from 5.1% last year. At the end of the year, the exchange rate will be ₴39 for $1. The founder of the Dragon Capital investment company, Tomas Fiala, announced the forecast … Read more
The World Bank has improved its growth estimate for Ukraine’s Gross Domestic Product (GDP) in 2023 to 4.8% from 2% and predicts a slowdown in recovery to 3.2% in 2024, according to a new World Bank Group Flagship report released in Jan. 2024. Ukraine’s economic prospects remain quite uncertain, though after a slowdown in 2024, … Read more