KYIV, May 19 (Reuters) – Ukraine’s economy returned to growth in April after a decline in the first quarter of the year, with gross domestic product up by 0.9%, driven by retail, the food sector and weapons production, Prime Minister Yulia Svyrydenko said on Tuesday.
She said that GDP growth in April had helped mitigate the contraction in the previous months of the year.
“The Ukrainian economy continues to recover despite the war, the consequences of the harsh winter and constant Russian attacks on energy infrastructure,” Svyrydenko said on the Telegram app.
“Following a difficult February, the recovery began as early as March. Some sectors are showing growth of over 10%. Ukraine remains economically resilient, adaptable, and has strong growth potential.”
Ukraine’s economy contracted by 0.5% in the first quarter of the year, official data showed. Thanks to the recovery in April, the overall contraction for the first four months of the year was trimmed to 0.2%, Svyrydenko said.
Ukraine’s economy has faced more than four years of war with Russia, with millions of people fleeing the fighting, cities and infrastructure bombed and logistics and exports disrupted.
Despite modest growth during several of the years of war, GDP is still about 20% smaller than it was before Russia’s invasion in February 2022.
Ukraine’s central bank expects GDP growth to slow to about 1.3% this year after a 1.8% increase in 2025.
(Reporting by Olena Harmash; Editing by Thomas Derpinghaus)
Comments