The Ukrainian economy has adapted to the force majeure business environment. According to the State Statistics Committee's preliminary estimate, GDP growth in Q2 2023 was 19.5% year-on-year. The growth was across all components of demand. Also, in Q2 2023, the economic sentiment indicator was positive for the first time since Q2 last year, at 9.4%.

"We have optimistic estimates of economic growth in the second quarter at 19.5%. This is somewhat higher than our forecasts and indicates that the economy is adapting to the war. It is important that the vast majority of economic activities demonstrated positive trends. The key factors that influenced the result are the flexibility and adaptability of domestic businesses, measures taken by the Government to support business and the economy, and international assistance from our partners. Our task is to consolidate these trends and move further towards recovery and development," said Yuliia Svyrydenko, First Deputy Prime Minister of Ukraine and Minister of Economy.

In particular, the recovery in domestic demand was facilitated by the continued restoration of production, including through business support programmes funded from the budget, and by the restoration of production facilities and infrastructure financed from the budget and funds provided by international partners.

Thus, according to the Ministry of Economy's calculations based on information from the Ministry of Finance, the state budget received 1.8 times more international financial assistance in the second quarter of 2023 than in the second quarter of 2022. Capital expenditures of the consolidated budget increased by 3.5 times compared to the same period last year.

International trade also had a positive impact on economic growth. In the second quarter, it was carried out, among other things, via the grain corridor and new logistics routes established in previous periods.