Economy Minister reports Ukraine’s GDP increases by 3.6% in January-February


Economy Minister reports Ukraine’s GDP increases by 3.6% in January-February

Ukraine’s economy is showing signs of recovery, with a 3.6 per cent increase in gross domestic product in the first two months of this year. Economy minister Yulia Svyrydenko attributes this growth to factors such as investment demand, favorable weather conditions for construction works, agricultural exports, and the operation of the Ukrainian sea corridor. Additionally, the expansion of production capacity in the mining industry and stability in the energy sector have contributed to this positive trend.

Svyrydenko expressed optimism about sustained growth in the first quarter, thanks to the strong performance of key sectors of the economy. This follows a 3.5 per cent increase in GDP in January, building on the 5 per cent growth seen in 2023 after a significant drop of 28.8 per cent the year before.

Ukraine’s economy faced severe challenges following Russia’s invasion in February 2022, which led to mass displacement of people, widespread destruction of cities and infrastructure, and disruptions to logistics, supply chains, and exports. Despite these setbacks, the recent growth in GDP signals a promising path towards recovery and stability for Ukraine’s economy.

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