In January-March 2023, the real GDP of Ukraine decreased by 10.5% compared to the same period last year. This is evidenced by the previous State Statistics Service’s data.
These are the lowest quarterly rates of decline of the country’s economy since the beginning of the war, in particular:
Compared to the fourth quarter of 2022, the economy of Ukraine increased by 2.4% in the first quarter of 2023, taking into account the seasonal factor.
«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 war,» noted First Deputy Prime Minister – Minister of Economy of Ukraine Julia Svyridenko.
The rate of inflation in Ukraine in May 2023 increased to 0.5% compared to 0.2% in April. Compared to May 2022, inflation decreased to 15.3% compared to 17.9% in April. Core inflation slowed to 0.3% in May from 0.5% in April and 1.3% in March. In January-May 2023, inflation in the country was 3.8%, and the base rate was 3.3%.
As GMK Center reported earlier, on November 3, 2022, the Verkhovna Rada in the second reading and as a whole adopted the draft law «On the State Budget of Ukraine for 2023». In 2023, the government expects GDP growth of 3.2% and an inflation rate of 28%.
At the same time, the National Bank worsened the growth forecast of the gross domestic product of Ukraine in 2023 to 0.3% from 4% in the previous forecast.
The European Commission (EC) has improved its forecast for EU economic growth in 2024 to…
In January-March 2024, Ukrtruboprom enterprises increased pipe production by 12.6% compared to the same period…
As of April 2024, port operators in Ukrainian seaports handled 9.91 million tons of cargo,…
German steelmaker Salzgitter has lowered its 2024 forecast for the steel market as signs of…
Steel company Voestalpine is launching a unique flagship project to use low-grade scrap in the…
In April 2024, Dnipro Metallurgical Plant (DMZ) increased its rolled steel production by 87.2% compared…