The main drivers of the economy this year remains the transportation and construction industry, processing and domestic trade.
At the end of November, Ukraine’s gross domestic product (GDP) growth slowed to 0.9% compared to 1.5% in October. In total, over 11 months, GDP grew by 4.0%, the Ministry of Economy reported on Thursday, December 12.
According to the department, the drivers of economic growth in 2024 remain the transportation and construction industries, processing and domestic trade.
In November, the following areas showed positive dynamics:
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transportation (thanks to the stable functioning of the Ukrainian sea corridor);
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construction (thanks to state support programs);
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domestic trade (reasons – constant domestic demand and supply of goods);
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processing industry (programs for business recovery and development, access to imported electricity and availability of alternative energy supply capacities);
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mining industry (operation of new wells for gas production).
It was noted that government support programs play an important role – grant programs for processing, creation and development of business, affordable lending of 5-7-9%, єOselya and others within the framework of the policy Zrobleno in Ukraine.
The department also added that the increase in purchases of products by the Ukrainian defense industry is stimulating the growth of mechanical engineering.
We remind you that at the end of 10 months, Ukraine’s GDP grew by 4.2% – in October growth slowed to 1.5% compared to 3.8% in September.
Earlier, the National Bank of Ukraine changed the main macroeconomic indicators for the current and subsequent years. Thus, GDP growth at the end of 2024 will be 4% instead of 3.7% predicted in July, and at the end of 2025 – 4.3% against the previously expected 4.1. %.
At the same time, the IMF predicts that in 2024 the Ukrainian economy will grow by 3%, and in 2025 = only 2.5%.
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Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.