Economy Ministry estimates growth of Ukrainian economy for nine months of 2023 at 5.3%


The Ministry of Economy estimates the growth of Ukraine’s gross domestic product (GDP) for January-September 2023 at 5.3%, the department said in a statement on its website on Friday.

“According to preliminary recent estimates of the Ministry of Economy, GDP growth in September amounted to 9.1% compared to September last year,” the release states.

According to it, the Ukrainian economy has moved to recovery growth, which, according to forecasts by the Ministry of Economy, will be about 5% by the end of this year.

The day before, First Deputy Prime Minister – Minister of Economy Yulia Svyrydenko, at the Dialogues on Resilience organized by NV, predicted it this and next year at the level of 4%, however, in a message from the Ministry of Economy on Friday, she is already credited with saying that it will grow this and next year by 5%.

“Almost all sectors show positive trends. In particular, in agriculture we are recording an increase in harvest compared to last year; in industry, production rates are gradually recovering – more than 10% growth in mechanical engineering, food industry, and furniture production. Construction is growing due to the continuation of restoration work, there is a revival in demand for the mortgage program, which, in turn, will give impetus to the activation of the primary real estate market,” the Ministry of Economy quotes Svyrydenko as saying.

She pointed out that the main sources of economic growth are the Ukrainian budget, which during the war is largely filled with international assistance, as well as business support programs.

According to the First Deputy Prime Minister, the government should strengthen support for business, so next year the budget includes more than UAH 40 billion for programs to stimulate entrepreneurship development, in particular, for the 5-7-9% affordable lending program, grant programs for the beginning own business and processing. In addition, for the first time, the budget will provide funds for the development of industrial parks and funds for humanitarian demining, which will help farmers who receive compensation for the purchase of services for demining agricultural land, Svyrydenko added.Β 



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