The Ukrainian economy grew by 6.5% in the first quarter, reaching almost 82% of its pre-war level.

According to the results from the first quarter of 2024, Ukraine’s real GDP increased by 6.5% compared to the same period last year, according to the State Statistical Service. A year earlier, according to the results from the first quarter of 2023, a decrease of 10.3% in annual terms was observed for real GDP.

At the same time, it is noted that in January-March, the real GDP also increased compared to the previous quarter by 1.2% (considering the seasonal factor). This means that in the first quarter, the Ukrainian economy reached almost 82% of the pre-war level.

According to the NBU’s forecast, in the first quarter of 2024 a 3.1% increase in annual terms was expected, and according to the Ministry of Economy’s estimates, 4.5%. In March of this year, compared to last year, almost all aggregated types of economic activity positively contributed to the GDP’s total volume.