Ukraine’s GDP growth amounts to 4% for 11 months of 2024

The Ministry of Economy estimated the growth of Ukraine's gross domestic product (GDP) for January-November 2024 at 4% compared to the same period last year, First Deputy Prime Minister – Minister of Economy Yulia Svyrydenko reported on her Linkedin on Wednesday.

At the same time, earlier the Ministry of Economy estimated the growth of GDP for 10 months of this year at 4.2% compared to the same period in 2023. According to the expectations of the department, the overall growth of the Ukrainian economy by the end of the current year will be 3.9%, with inflation at 9.5%.

Svyrydenko notes that such a GDP growth rate for 11 months is due to stable exports via the sea corridor, financing of the restoration of critical infrastructure and repair of damaged roads, as well as domestic trade supported by stable domestic demand and supply.

Among other positive factors that influenced the economic growth rate, the Minister of Economy mentioned an increase in production in the mechanical engineering sector, the expansion of the processing industry due to access to imported electricity and alternative energy supply options, as well as an improvement in the mining industry, due to the operation of new gas wells.

"The economy continues to adapt to the challenges of wartime," Svyrydenko stated.