Economic growth has been hampered by the increasing intensity of hostilities, the erosion of infrastructural facilities and the lack of electricity.
In May, Ukraine’s gross domestic product (GDP) grew by 3.7% compared to May 2023. As a result, for the first five months of 2024, economic growth is estimated at 4.3%, the Ministry of Economy reported on Thursday , June 20.
“The increase in the intensity of the conflict, the shelling of infrastructure facilities and the lack of energy – all this, unfortunately, prevented the growth of the economy in May of this year,” said the First Deputy Prime Minister of the Economy Yulia Sviridenko.
At the same time, GDP growth continued due to high export rates in conditions of stable operation of the maritime corridor, as well as high demand for construction services, supported by financing for the restoration of infrastructure.
According to the department, the main unresolved problems remain high security risks, as well as the destruction of energy infrastructure.
“Energy restoration will require time and resources, which, according to forecasts, can prevent the pace of continuation of Logistics problems and the difficult situation in the labor market due to high migration remain negative factors factor for the economy,” the Ministry. Economics added.
We remind you that in April GDP growth was about 4.3% compared to the same period last year.
Earlier, the National Bank worsened its forecast for real GDP growth to 3% in 2024, but slightly improved expectations for the inflation rate.
We remind you that in 2023, the GDP of Ukraine grew by 5.3% after decreasing by 28.8% in 2022. Such data was published by the State Statistics Service.
Earlier, Prime Minister Denis Shmygal said that by 2024 the government expects 5% GDP growth.
Source: korrespondent
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