The Ukrainian economy is showing positive signals despite the huge decline at the beginning of the great war. We managed to get inflation under control. This was announced by Prime Minister Denys Shmyhal during a government meeting, UNN reports .
"Despite the huge economic downturn at the beginning of the great war, the economy is now showing positive signals. Thus, in the third quarter of 2023, compared to the same period last year, the country's GDP grew by 9.3%. This is more than expected," Shmyhal said.
According to him, the economy is positively influenced by government business support programs, infrastructure rebuilding, stable operation of the southwestern export logistics corridor, and other factors, including business awareness.
"We have also managed to get inflation under control. Compared to November last year, consumer inflation was 5.1%. This is less than in some of our western neighbors. The second wartime harvest of about 78 million tons is almost complete. The Ministry of Agrarian Policy predicts that the total harvest will be 81.3 million tons. That is 20% more than we expected during the sowing campaign," Shmyhal said.
He noted that the Ukrainian economy demonstrates high adaptability, which will accelerate the recovery and create growth points for the future. [On December 11, the IMF Executive Board approved the second review of the EFF program for Ukraine, which paves the way for Ukraine to receive another tranche of almost $900 million.