The Ministry of Economy of Ukraine forecasts a fall in GDP in the first quarter of 2022 by 16%, and by the end of the year the fall may reach 40%. This was announced by First Deputy Minister of Economy of Ukraine Denis Kudin,
KYIV. UkraineGate , 2 , April , 2022 | Economy .
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“Russia’s aggression against Ukraine has radically changed our economy. Our forecast for GDP decline in the first quarter of 2022 is 16%, and the annual decline could reach 40%,” Kudin said on Facebook.
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According to the Deputy Minister of Economy, those industries in which remote work is impossible have suffered the most. These are, in particular, air, sea transportation, services, where the business works directly with consumers.
“Although a significant number of enterprises have suspended their activities, the economy as a whole has begun to recover over the past 10 days, and business in safe regions is returning to business. Agrarians who have already started sowing should be especially noted,” Kudin added.
The official noted that in the process of economic recovery, priority is given to industries that directly ensure the livelihood of citizens and strengthen our defense capabilities. These are, in particular, agriculture, food production and retail chains, through which these products from the producer to the consumer.
“We pay special attention to utilities and energy companies so that people have heat, light and gas at home. We also focus on manufacturing companies that perform tasks for the Armed Forces of Ukraine. For example, light industry, which sews clothes and shoes for the army, defense companies. of an industrial complex which repair equipment, make repair kits, carry out other works on service of ZSU “, – he reported.
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According to the Ministry of Economy , Ukraine’s losses due to the war exceeded $ 560 billion.
Source: Ukrgate
