The Ukrainian economy has moved to recovery growth, according to the forecasts of the Ministry of Economy, GDP growth will be about 4% by the end of the year. This was noted by First Deputy Prime Minister of Ukraine - Minister of Economy Yuliia Svyrydenko during a discussion panel as part of the Dialogues on Sustainability event organized by NV.

“After last year’s drop of almost 30%, this year we are seeing a recovery growth. By the end of 2023 and the following year, we forecast GDP growth of about 4%. Almost all sectors show positive trends. In particular, in agriculture, we are recording an increase in harvest compared to last year, in industry, production rates are gradually recovering – we have more than 10% growth in mechanical engineering, food industry, and furniture production. Construction is increasing due to the continuation of restoration works, there is a revival of demand for the eOselia mortgage program, which, in turn, will give an impetus to the activation of the primary real estate market,” Yuliia Svyrydenko said.

According to preliminary operational estimates of the Ministry of Economy, GDP growth in September amounted to 9.1% compared to September last year. As a result, for January-September 2023, growth is estimated at the level of 5.3%.

According to Yuliia Svyrydenko, the main sources of economic growth are the Ukrainian budget, which in wartime is largely filled by international aid and business support programs.

In her opinion, the Government should strengthen business support, so next year the budget will include more than UAH 40 billion for programs to stimulate the development of entrepreneurship, in particular, the program of affordable lending at 5-7-9%, grant programs for starting own business and establishing processing enterprises. In addition, for the first time, the budget will include funds for the construction of industrial parks, funds for humanitarian demining, which will help farmers who will receive compensation for the purchase of agricultural land demining services.