Economy 2023-07-15T06:00:39+03:00
Ukrainian news
Economy Ministry Estimates Decline In GDP At 0.2% In 4M

Economy Ministry Estimates Decline In GDP At 0.2% In 4M

Economy Ministry, GDP

The Ministry of Economic Development and Trade estimates the decline in GDP at 0.2% in the first four months of 2021.

The ministry has said this in a statement, Ukrainian News Agency reports.

The Ministry of Economy estimates a slight decrease in GDP at 0.2% compared to a 2.0% fall in January-March of this year and 4.9% in January-April 2020.

So, in January-April, for the first time since December 2019, there was an increase in the composite index of production (CIP) by 0.7%, against -3% in January-March of this year and -5.9% in January-April 2020.

The positive dynamics of the composite index of production was formed by industrial production and domestic trade.

In turn, the construction industry and the transport sector, although they showed negative results, however, reduced the negative pressure on the CIP indicator as a whole.

In agriculture, the situation remains difficult, which has formed a negative contribution to this indicator.

According to the ministry, in April, most of the main economic activities showed a significant improvement in the situation.

However, against the background of still pessimistic sentiments of business and increased quarantine restrictions in certain regions of the "red" zone of epidemic danger, such an improvement is still mainly the effect of the low statistical base of comparison of last year, when in March-April 2020 there was a peak of the negative effect on all spheres of the economy from the impact of global strict quarantine restrictions both domestically and internationally.

"That is, the significantly better quantitative data in April only confirms the fact that business has successfully adapted to work under quarantine conditions. At the same time, we cannot yet talk about a post-crisis economic recovery. This takes more time," the Economy Ministry emphasizes.

As Ukrainian News Agency earlier reported, in January-March 2021, the real gross domestic product (GDP), according to operational data, decreased by 2.0% compared to the same period in 2020.

Больше новостей о: Economy Ministry GDP