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The State Statistics Service has released GDP data for the second quarter

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In the first half of this year, the Ukrainian economy remained in the black, despite Russian attacks on the energy system.

The State Statistics Service published the first estimate of Ukraine’s gross domestic product (GDP) for the second quarter of 2024. The growth rate has slowed significantly, according to the department’s data on Wednesday, September 25.

“Real GDP in the second quarter of 2024 increased by 0.2% compared to the previous quarter (taking seasonal factors into account), and by 3.7% compared to the second quarter of 2023,” the report said.

As you know, in the first quarter, GDP grew by 1.2% compared to the previous quarter, and by 6.5% compared to the first quarter of 2023.

In the first quarter of 2023, real GDP contracted 10.3% year-on-year. In the second quarter, GDP grew by 19.2%, in the third – by 9.6%, in the fourth – by 4.7%.

Earlier, the Ministry of Economy reported that Ukraine’s GDP growth has been accelerating for two months. At the end of August, the economy increased by 3.5% (±1%) compared to August last year.

It was also reported that in September the IMF again worsened the forecast for Ukraine’s GDP. Experts believe that economic growth will be slow due to the impact of Russian attacks on energy infrastructure, the impact of the war on the labor market and the level of expectations of business activity.

In turn, the Ukrainian government significantly worsened the forecast for economic growth in 2025 – 2.7%. At the same time, growth of 6.8% was previously expected.

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Source: korrespondent

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