2022-08-19T16:55:00+03:00 Economy 2024-05-15T05:40:27+03:00

Ukrainian news

Ukrainian news

Economy Ministry Predicts Drop In GDP By 35-40% In 2022

Economy Ministry Predicts Drop In GDP By 35-40% In 2022

The Ministry of Economy predicts a drop in GDP by 35-40% in 2022. First Vice Prime Minister - Minister of Economy Yuliya Svyrydenko said about this on the air of the national telethon, Ukrainian News Agency reports.

"We all understand that we are at war and according to our calculations based on the macro forecasts made by the Ministry of Economy, the economy may shrink by 35-40% by the end of the year," she said.

Svyrydenko emphasized the importance of maintaining economic stability, macro-stability, and stimulating the economic efficiency of the state.

She considers it important in this context to support the work of enterprises by the state that were able to continue or resume production in the conditions of the war, to provide opportunities for representatives of export-oriented businesses to go abroad.

Svyrydenko reported that the Cabinet of Ministers has allowed representatives of enterprises that do not owe taxes and wages to employees to travel abroad for up to 7 days in order to sign business contracts.

As Ukrainian News Agency earlier reported, in June, the National Bank predicted a drop in Ukraine's GDP in 2022 by at least a third and a 20% increase in prices.

The NBU estimates the drop in GDP in the second quarter to 40%.

The World Bank predicts a drop in Ukraine's GDP by 45.1% in 2022.