The agricultural sector and the sea corridor are saving the economy: GDP up 4%
6 September 2024 09:41
According to the Ministry of Economy of Ukraine, in July 2024, the country’s gross domestic product (GDP) grew by 2.7% compared to the same period last year. This was reported by First Vice Prime Minister and Minister of Economy Yulia Svyrydenko on the X network, reports "Komersant Ukrainian"
According to the official, the main factors that contributed to economic growth were the early start of harvesting in the agricultural sector and the stable operation of the sea corridor.
Svyrydenko also noted that the total GDP growth in January-July 2024 was 4.0%.
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Thus, the current GDP growth exceeds the NBU’s forecasts, as 
reported, the National Bank forecasts Ukraine’s economy to grow by 3.7% in 2024. It believes that businesses have partially adapted to the constant power outages, and the stable operation of the sea corridor has provided significant support to economic activity.
In addition, the NBU has noticed the development of distributed power generation in the country, in particular with the support of large-scale loan programmes.
The NBU also forecasts an acceleration in real GDP growth to 4-5% in 2025-2026. And the European Commission forecasts a 6.2% increase in Ukraine’s GDP if the Ukraine Facility plan is implemented.
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