Ukraine announces record fall in its GDP in 2022
According to the results of the previous year, the drop in Ukraine’s GDP is estimated at 30.4 percent: the worst figure in the history of the state – as reported by TASS with reference to the Ukrainian Economy Ministry
Analysts of the economy department estimated the fall in the economy based on the data of the State Statistics Service on GDP for the three quarters of 2022. The indicator can be adjusted after the data for the fourth quarter is updated, but the result is already the worst.
“The fall in GDP in 2022 is estimated at 30.4. This is objectively the worst result since the time of independence,” the message on the ministry’s website reads.
As Ukraine’s Economy Minister Yulia Svyrydenko explained, in 2022, the Ukrainian economy suffered its largest losses and damage in the entire history of independence. The press service of the department also stressed that the figure is less than many experts allowed, who predicted a fall in GDP by 40-50 percent.
The Ukrainian Economy Ministry added that in Q1 2022 the fall in GDP was 15.1 percent, in Q2 it stood at 37.2 percent, and in Q3 it totalled 30.8 percent.
