The Ministry of Economy expects Ukraine's GDP to grow by 4% in 2024.
This is announced in a statement by the Ministry of Economy, Ukrainian News Agency reports.
"According to the results of 2024, Ukraine's GDP is expected to grow by 4%, of which 0.64%, or more than UAH 88 billion, is the result of the implementation of the "Made in Ukraine" policy," the report says.
According to First Vice Prime Minister, Minister of Economy Yuliya Svyrydenko, the processing industry has become one of the leaders in tax payments, according to the results of the three quarters of 2024, it accounts for 16.7% of the total collection to the consolidated budget of Ukraine, the growth in tax payments for the first 9 months was 19.6% compared to the same period last year.
It is also noted that the demand for Ukrainian goods is stimulated by the National Cashback program, according to the Retail Association of Ukraine, sales of certain products increased by 9.5% in the first months of its implementation.
According to Svyrydenko, the support for non-raw material exports in 2024 was facilitated by the renewal of free trade agreements with Canada and the UK, the continuation of autonomous trade measures with the EU, exemption from duties on Ukrainian steel from the US, as well as instruments from the Ukrainian Export Credit Agency, which supported non-commodity exports by UAH 7.22 billion in 11 months, which is almost UAH 2 billion more compared to last year.
It is noted that in 2025 the government will continue to support the Made in Ukraine policy programs, ensuring their full financing in order to stimulate the production of value-added goods and economic development.
As Ukrainian News Agency earlier reported, according to the Ministry of Economy, GDP grew by 4.2% in 10 months of 2024.
At the end of October, the National Bank improved its GDP growth forecast from 3.7% to 4% in 2024.
In July, the Ministry of Economy estimated GDP growth in the first half of the year at 4.1% and expected it to grow by 3.5% in 2024.
The state budget for 2024 was developed based on a macroeconomic forecast that predicted real GDP growth in 2024 by 4.6%.
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