Ukraine’s wartime economy continues to adapt and recover — GDP grows by 2.4% in Q1 — Economy Minister
Ukraine’s real GDP in the first quarter of 2023 increased by 2.4% compared to the fourth quarter of 2022, according to Economy Minister Yulia Svyrydenko.
“Such data indicates that the economy of Ukraine is adapting and recovering at a faster pace than previously predicted. It continues to work and overcome the challenges of war,” said Svyrydenko.
She added that the situation has been improved by the implementation of programs such as “Affordable Credits 5-7-9%,” “e-Robota,” and significant funding for the reconstruction of damaged infrastructure, housing, and social facilities.
“All this becomes possible thanks to the international assistance provided by partner countries, which fuels the restrained optimism of business entities,” she said.
Svyrydenko drew attention to delays in the operation of the grain corridor during the first quarter.
Additionally, exporters faced restrictive measures imposed by neighboring countries on the import and transit of Ukrainian agricultural products. These challenges are further compounded by the consequences of a terrorist act — the destruction of the Kakhovka Hydroelectric Power Plant.
The Economy Minister assures that positive GDP dynamics are also observed in the second quarter.
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