Ukraine's economy returned to growth in April after a difficult winter and a slump in the first quarter of the year, with GDP growing by 0.9% over the month. Meanwhile, even the rise in global oil prices is unable to solve the problems Russia is currently experiencing due to the war it started against Ukraine. This was stated by First Deputy Prime Minister Yulia Svyrydenko on social media on Tuesday, UNN reports.
The Ukrainian economy continues to recover despite the war, the consequences of a difficult winter, and constant Russian attacks on energy infrastructure. After a decline in the first quarter, Ukraine's GDP, according to Ministry of Economy estimates, grew by 0.9% in April alone, which allowed for a significant easing of the negative GDP dynamics for the first four months of 2026 to -0.2%
According to the Deputy Prime Minister, growth in Ukraine is being demonstrated by domestic trade, the mining and manufacturing industries—particularly the defense sector—the production of goods necessary for energy restoration, as well as the food industry. "After a difficult February, recovery began as early as March. Certain sectors are showing growth of over 10%," she indicated.
"Ukraine maintains economic resilience, adaptability, and growth potential. This is confirmed by the forecasts of our partners. According to updated projections, the IMF expects Ukraine's GDP growth in 2026 to be at 2%, while the World Bank expects it to be at 1.2%," Svyrydenko noted.
At the same time, according to her, "Ukrainian long-range sanctions are producing an economic effect" — Russia is losing oil revenues and becoming exhausted.
"Internal Russian assessments confirm the growing exhaustion of the Russian economy due to the systemic destruction of oil and gas infrastructure. Ukrainian long-range sanctions are working very effectively. Russia is already forced to shut down active oil wells, and the drop in oil refining is at least 10% in just a few months of this year, according to Foreign Intelligence Service data. The effect is also confirmed by April export data – Russian exports of petroleum products decreased by 21% year-on-year (and by 12% compared to March)," Svyrydenko pointed out.
According to her data, at the same time, the budget deficit reached $75.4 billion in the first four months of this year. This is 50% higher than the annual plan and is the highest figure for similar periods since the start of the full-scale invasion.
"Even the rise in global oil prices is unable to solve the problems Russia is currently experiencing due to the war it started against Ukraine. The Russian government has significantly downgraded its forecast for Russian GDP growth in 2026 from 1.3% to 0.4%," Svyrydenko emphasized.