Ukraine's economy recovers faster than predicted – Ministry of Economy
It is noted that the real GDP in the first quarter of 2023 grew by 2.4% compared to the previous one
In the first quarter of 2023, the GDP decrease was 10.5% compared to the previous annual estimate by the Ministry of Economy of "minus" 14.1%.
This was announced by the Minister of Economy of Ukraine, Yuliya Svyrydenko, commenting on the data from the State Statistics Service.
"Such data indicate 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 the war. And this is confirmed by the growth of the real seasonally adjusted GDP in the first quarter of 2023 compared to the fourth quarter of 2022 by 2.4%," she noted.
The Minister also added that the government's measures to stabilize the situation in energy and to resolve logistical issues, including access to certain seaports within the grain agreement, remained supportive for businesses and the population.
Furthermore, according to Svyrydenko, the implementation of business support programmes such as Affordable Credits 5-7-9% and grant programmes like eRobota, as well as international assistance from partner countries, contribute to the improvement of the situation.
Background. The export of goods in the first quarter decreased by 26.1%, while imports increased by 10.9%.
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