The Ukrainian economy grew slightly in the first seven months of this year. The Ukrainian Ministry of Economic Affairs reported that the country’s economy is recovering from war damage faster than expected.
In het kort
- De Oekraïense economie is met 2,2 procent gegroeid in vergelijking met vorig jaar.
- Meer ondernemers en westerse steun helpen de economie.
- De Oekraïense centrale bank is positief over de rest van het jaar.
The ministry said on Wednesday that the country’s economy at war grew by 2.2 percent compared to the same period last year. Last year, the Ukrainian economy shrank by about a third.
The war caused severe damage to infrastructure such as bridges, buildings, power networks and agricultural lands. Because many men have gone to the front to fight the Russians, there are also fewer workers in the country.
According to the ministry, economic growth is very important. Taxes paid by corporations can be used to finance war and repair damage.
Recovery has now been seen. According to the Ukrainian government, the number of entrepreneurs is now greater than before the war. Western support for the country also helps the economy.
The Central Bank of Ukraine revised its growth forecast for the full year 2023 upward to 2.9 percent. The bank previously expected it to reach 2 percent. The World Bank is a bit more cautious. It expects growth of 0.5 percent in Ukraine this year.