Ministry of Economy: According to preliminary estimates, Ukraine's GDP fell by 30.4% in 2022
This is a better figure than the one in preliminary forecasts
What happened? The decline in Ukraine's GDP in 2022 is estimated at 30.4% [±2%], which is better than the figure projected in preliminary forecasts.
Source. The press service of the Ministry of Economy.
Details. "During 2022, Ukraine’s economy suffered the largest losses, costs and damages in the history of its independence that were caused by russia, which on February 24 scaled up its terror, started in 2014, along the entire length of the common border and from the territory of belarus and the occupied Crimea," the ministry said. At the same time, at the beginning of the full-scale invasion, experts predicted a drop in GDP in the range of 40-50%.
In December, GDP decline was estimated at -34% [±2%], which is slightly better than the estimates for November (GDP drop of 37% [±2%]). Respectively, for the fourth quarter the decline was estimated at 35.5% [±2%], given some stabilisation of the situation with energy supply after the attacks in November.
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