Kiev, March 15 (SocialNews.XYZ) Ukraine's GDP shrank by 29.2 per cent in 2022, state media reported, citing an estimation by the country's Economy Ministry.
The economic decrease reflected depressed household consumption, a decline in investment activity, and negative pressure on export and import operations caused by the Russia-Ukraine war, the government-run Ukrinform news agency reported on Tuesday.
Ukraine's GDP performance last year was better than the initially estimated decline of 30.4 per cent due to better-than-expected dynamics in the fourth quarter, Xinhua news agency reported.
According to official statistics, Ukraine's real GDP declined by 31.4 per cent year-on-year in October-December of 2022.
Earlier this month, the Economy Ministry slashed its forecast for the country's GDP growth this year to 1 from 3.2 per cent estimated earlier.
Source: IANS
About Gopi
Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc.
He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources.
When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any.
He can be reached at gopi@socialnews.xyz