Ukraine’s GDP down 19.5% in Q2, 2023

In the period of April-June 2023, according to current data, the real gross domestic product decreased by 19.5% year over year.

This is stated in the message of the State Statistics Service, Ukrainian News Agency reports.

Compared to the first quarter of 2022, GDP increased by 0.8% (taking into account the seasonal factor and excluding the temporarily occupied territory of the Autonomous Republic of Crimea and the city of Sevastopol).

The State Statistics Service clarifies the indicators of the real gross domestic product during the year.

As Ukrainian News Agency earlier reported, in January-March 2023, real gross domestic product (GDP), according to operational data, decreased by 10.5% compared to the same period in 2022.

In 2022, the real gross domestic product decreased by 29.1% compared to 2021 (in constant prices of 2016) to UAH 5,191.028 billion (in actual prices) (excluding the temporarily occupied territory of the Autonomous Republic of Crimea and the city of Sevastopol).

The state budget for 2023 was developed based on the macroeconomic forecast, which predicts real GDP growth by 3.2%.

As Ukrainian News Agency earlier reported, the Cabinet of Ministers proposes to the Verkhovna Rada to adopt the 2024 state budget with revenues of UAH 1.746 trillion, expenditures of UAH 3.308 trillion and a deficit of UAH 1.531 trillion.