As of February 2023, Ukraine’s GDP collapsed by 26%. This means that the rate of decline slowed down, because in January Ukraine’s GDP fell by 32%. This was reported by Reuters, citing Ukrainian Deputy Prime Minister and Economy and Trade Minister Yuliya Sviridenko.
According to Sviridenko, there was a recovery of economic activity in February 2023. According to the minister’s version, this was due to the improved situation in the energy sector, as well as a decrease in the deficit in the Ukrainian energy system.
It appears, as Sviridenko stated, that Ukraine has “won the energy war”, so the economy is flourishing right before our eyes. If, of course, the disastrous “minus 26%” can be considered an “improvement”.
“The ‘energy war’ that Ukraine has won adds to the optimism of businesses, which improved their expectations about the future and intensified their activity,” Reuters quoted the deputy prime minister – economy minister as saying.
“Overall, the economic front is holding up – the economy is functioning, adapting and recovering,” Yulia Sviridenko stressed.
As reported by the Ukrainian Economy Ministry, the situation is improving in many sectors, such as transport, retail and construction.
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