Ukraine’s GDP growth accelerated due to early start of harvesting - Ministry of Economy

Ukraine's GDP growth in July 2024 compared to July last year amounted to 2.7%, which is better than the June figure of 1.1%, but worse than the May and April figures of 3.7% and 4.3%, accordingly.

This was stated by First Vice Prime Minister and Minister of Economy of Ukraine Yuliia Svyrydenko.

"Ukraine's economy continues to demonstrate resilience. According to the Ministry of Economy, GDP grew by 2.7% in July. This was facilitated by the early start of the harvest in agriculture and the stable operation of the sea corridor," Svyrydenko wrote on social network X.

According to the Deputy Prime Minister, the total growth in January-July this year is 4%.

Earlier it was reported that Ukraine's GDP growth slowed to 1.1% in June due to power outages.

According to the State Statistics Service, Ukraine's real domestic GDP in the first quarter of 2024 increased by 1.2% (seasonally adjusted) compared to the previous quarter, and by 6.5% compared to the first quarter of 2023.

At the end of July, the National Bank of Ukraine improved its GDP growth forecast for Ukraine in 2024 to 3.7%, but downgraded its assumptions for economic recovery in 2025-2026.