The slowdown of Ukrainian economic growth rate in January took place due to a reduction in exporters’ activity.
Ukraine’s Gross Domestic Product (GDP) in January grew by 1.5%. This is less than December 2024 (1.7%), the Ministry of Economics press service said on Monday, February 17.
“Slowing down economic growth rates in January occurred due to a reduction in export activity. However, high budget financing paid for temporary collapse in exporting goods. The main Growth factor is the restoration of damaged critical infrastructure, overhaul and repair of the roads in emergency sections, housing construction, “the first deputy economic minister Sergey Sobolev said.
According to him, the purchases of OPC sector domestic products remained high, stimulating the increase in engineering production.
In agriculture, there is a reduction in the manufacture of animal products due to the increase in the cost of making it. In addition, a fall in the mining and transportation industry was recorded.
The main reasons for such changes are that the Ministry of Economy considers stopping the work of mines in the Donetsk region located in the collision line. There are also disruptions in the supply of electricity due to massive missile attacks.
In December 2024, GDP growth was estimated at 1.7%. The prognosis of GDP growth, laid out on the budget of 2025, is 2.7% per year.
Remember, according to the NBU forecast, this year’s GDP increases by 3.6%, and in the next two years the economy will accelerate by almost 4% each year.
Source: korrespondent
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