Thursday, December 19
The Ministry of Economy gives their final assessment of Ukraine’s 2022 GDP.
Tuesday, April 11, 2023
In 2022, Ukraine’s economy suffered the most significant losses in its entire history of independence due to the Russian invasion that started on February 24.
The GDP decrease is estimated at 29.2%, the worst result since independence, but better than most experts expected, the Ministry of Economy concluded. The prior estimates ranged from a 40-50% fall in GDP or even worse.
The continuation of hostilities, which in all probability will be accompanied by missile attacks even under enhanced protection by modern air defense systems, may cause further destruction.
The uncertainty regarding the duration of this situation will restrain development and postpone active reconstruction, the Ministry of Economy noted.
