Ukraine’s economy grows by 2.2% in January to July 2023

Ukraine’s gross domestic product (GDP) increased by 2.2 percent year-on-year during the first seven months of 2023, according to data released by Ministry of Economy on Wednesday.

The ministry added in a statement that Ukraine’s economy has begun to recover from the difficulties it has experienced since the outbreak of the Russian-Ukrainian war in 2022.

The National Bank of Ukraine (NBU) raised its GDP growth forecast to 2.9 percent in 2023 from a previous target of two percent, while it expected the economic growth to accelerate 3.5 percent in 2024.