The Ministry of Economy has projected a growth of Ukraine's gross domestic product (GDP) by 4% for the period from January to November 2024 compared to the same period last year, as reported by First Deputy Prime Minister and Minister of Economy Yulia Svyrydenko on her LinkedIn on Wednesday.
Previously, the Ministry estimated a GDP growth of 4.2% for the first ten months of this year in comparison to the same period in 2023. The agency expects that the overall economic growth in Ukraine for the current year will reach 3.9%, with an inflation rate of 9.5%.
Svyrydenko highlighted that this GDP growth figure for the 11 months is driven by stable exports through the maritime corridor, funding for the restoration of critical infrastructure, and repairs of damaged roads, along with domestic trade supported by robust internal demand and supply.
Among other positive factors influencing economic growth, the Minister of Economy mentioned an increase in production within the machinery sector, the expansion of the processing industry due to access to imported electricity and alternative energy supply options, as well as improvements in the mining sector through the exploitation of new gas extraction wells.
"The economy continues to adapt to the challenges of wartime," Svyrydenko stated.