Ukraine’s economy shrinks by 15 percent

Ukraine’s economy shrinks by 15 percent

Ukraine’s economy shrinks by 15 percent

Ukraine’s economy shrinks by 15 percent

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  • Ukraine’s GDP contracted by 15.1 percent in the first three months of this year.
  • It is expected to decrease by 35 percent in 2022.
  • Ukrainian finance minister Sergiy Marchenko told that he expected a drop of 45-50 percent.
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According to the state statistics agency, Ukraine’s GDP contracted by 15.1 percent in the first three months of this year due to the war with Russia.

Read more: The UN says, the conflict in Ukraine may force 47 million people into severe food poverty

Ukraine’s gross domestic product is expected to decrease by 35 percent in 2022, according to the International Monetary Fund. And, Ukrainian finance minister Sergiy Marchenko told the AFP news agency in mid-May that he expected a drop of 45-50 percent.

Read more: Ukraine will get another 205 million euros in humanitarian help from the EU

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