2022-09-08T17:49:00+03:00 Economy 2024-04-15T05:22:44+03:00

Ukrainian news

Ukrainian news

GDP Falls By 37.2% In Q2

GDP Falls By 37.2% In Q2

In the second quarter of 2022, real gross domestic product (GDP), according to current data, decreased by 37.2% compared to the same period in 2021.

This was reported by the State Statistics Service, Ukrainian News Agency reports.

Compared to the first quarter of 2022, GDP decreased by 19.1% (taking into account the seasonal factor and excluding the temporarily occupied territory of the Autonomous Republic of Crimea and the city of Sevastopol).

During the year, the State Statistics Service clarifies the indicators of real gross domestic product.

As Ukrainian News Agency earlier reported, in the first quarter of 2022, real gross domestic product (GDP), according to current data, decreased by 15.1% compared to the same period in 2021.

In 2021, the real gross domestic product increased by 3.4% compared to 2020 (in constant 2016 prices) to UAH 5,459,574,000 (in actual prices) (excluding the temporarily occupied territory of the Autonomous Republic of Crimea and Sevastopol).

The state budget for 2022 was developed based on the macroeconomic forecast, which provides for real GDP growth of 3.8%. However, with Russia's military aggression against Ukraine, the domestic economy, according to international organizations, could fall from 30% to 45%.

The World Bank has published a report stating that the war in Ukraine will cause a "historic" jump in food and energy prices, which will remain high until the end of 2024.