Ukrainian government expects 5% GDP growth this year

Ukraine's GDP grew by 5.6% in 2023, and the country's government expects 5% growth in 2024.

Source: Ukraine’s Prime Minister Denys Shmyhal at a press conference

Details: "We had 5.6% GDP growth last year. We expect up to 5% growth this year. Naturally, compared to the 30% loss of territory, [harm to] economy and GDP, these are relatively small figures, but they are growth indicators. It helps us, among other things, to finance the army and all social payments," Shmyhal said.

Background:

• The government expects consumer demand to grow by +0.14% of GDP driven by the promotion of Ukrainian goods under the Made in Ukraine brand.
• The combined effect that the Ukrainian economy may receive from the interaction of the eRecovery state compensation programme and the national cashback programme entitled Buy Ukrainian is estimated to be up to US$60 billion.

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