A reduction in the rate of economic growth in February occurred due to the missile of flowing facilities for gas manufacture and a temporary reduction in export activity, the Ministry of Economy explained.
Ukraine’s gross domestic product in February grew only 0.7%. This is significantly lower than January (1.5%) and December 2024 (1.7%), the Ministry of Economy reported on Wednesday, March 19.
“In February 2025, the Ukraine GDP grew 0.7%, and according to the results of the first two months of the year by 1.1%. The slightly lower start of the year was a glass of uneven trends of growth last year. At the same time, we are currently even higher than our forecast for the first quarter,” the report said.
The first Deputy Minister of Economics, Alexei Sobolev, said the slowdown in the economic growth rate last month took place due to the flow of gas -producing facilities and a temporary decrease in exporters’ activity.
“At the same time, high budget financing for restoring damaged critical infrastructure, housing construction under the єvillennaya and єosel programs, as well as buying OPC sector domestic products paid for these negative factors,” he said.
According to him, the main factors of growth are the construction industry, domestic processing industry and trade industry.
Economic growth in February was facilitated by a domestic trade (retail) revival, and consumer sentiments continue to improve the four months in succession.
In addition, business restoration and support programs have contributed to the development of the processing industry, especially thanks to financial assistance. Positive dynamics are demonstrated by manufacture of building materials, mechanical manufacture products and food industry.
At the same time, a reduction in the manufacture of animal products is observed in the agrarian sector due to increased cost. A fall in the mining industry was also recorded due to missile shelling of production gas infrastructure and transportation due to a temporary reduction in export activity.
It is noteworthy that in January the NBU exacerbated the forecast for GDP for 2025 to 3.6% from 4.3% in October’s previous forecast. At the same time, the prognosis of GDP growth, laid out on the budget – is 2.7% per year.
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Source: korrespondent
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