Ukraine’s GDP up by 4.2% year-on-year in Jan-Oct, economy ministry says
2024.11.18 04:46
KYIV (Reuters) – Ukraine’s gross domestic product grew by 4.2% year-on-year from January to October fueled by expansion in the construction, transport and processing industries, the economy ministry said on Monday.
It said in a statement that GDP grew by 1.3% in October compared with the same month a year ago.
The Ukrainian government implemented programs to rebuild the wartime damage as Russia’s invasion reaches its 1000-day mark this week. It fueled demand for construction works and supported the expansion in the construction sector, said Oleksiy Sobolev, first deputy economy minister.
Sobolev said that transport and processing industries were other drivers for economic growth in the 10 months of the year.
The government expects Ukraine’s economy to grow by 4% this year.
For the next year, the government forecasts a slower economic growth at about 2.7% as the war, security risks, an expected energy deficit, and staff shortages will limit growth.
