Ukraine's GDP will fall by at least 35% in 2022, Prime Minister Denis Shmygal said.
"We managed to have a relatively successful sowing campaign, to resume logistics across the western border... However, this should not be misleading. GDP is expected to sag at least 35 percent this year," he said during a conference in Lugano, Switzerland, on Tuesday.
However, he noted that the economy is beginning to recover from the shock coma that was the first month and a half of Russia's full-scale war against Ukraine.
As reported, Ukraine's GDP is estimated by the State Statistics Committee to fall 15.1% in the first quarter of 2022 compared to the first quarter of 2021 after growing 6.1% in the fourth quarter of last year.
According to estimates of the National Bank, in the second quarter the decline amounted to 40%. The NBU forecasts that the rate of economic contraction will be lower in the second half of the year, but real GDP will decline by more than 30% for the year as a whole.
