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Ukraine’s economy grew at the beginning of the year

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Among the main factors supporting the positive economic dynamics at the beginning of the year is the availability of foreign markets for manufacturers due to improved logistics.

At the end of January of the new year, the Ukrainian economy grew by 3.5% compared to January 2023. Such preliminary data was published by the Ministry of Economy on Tuesday, February 13.

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“The main factors that support the positive dynamics of the economy at the beginning of the year are the growing investment needs that make up the budget, as well as the accessibility of foreign markets for domestic producers due to the expansion of logistics capabilities, ” said the statement.

It is indicated that the work of the Ukrainian sea corridor has made it possible to achieve record export volumes since the beginning of the large-scale invasion of the Russian Federation and to continue to increase economic activity. First of all, it concerns manufacturers of agricultural and metallurgical products, metal ore mining enterprises and railway activities.

Also, the lifting of the blockade of Polish road carriers on the Polish-Ukrainian border from the middle of the month had a positive effect on the activities of exporters.

The Ministry of Economy emphasized that in January all the main sectors of the economy showed positive dynamics.

It was previously known that in the third quarter of 2023, the decrease in the GDP of Ukraine was recorded by more than 10% compared to the second quarter. This is confirmed by the operational data of the State Statistics Service.

In turn, the National Bank expects GDP growth of 4.9% by the end of 2023. At the end of October, the regulator improved its macro forecast for 2023 for the third time.

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Source: korrespondent

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