7/5, 5:01 PM (Source: TeleTrader)
more TeleTrader news

Ukraine's GDP to drop by at least 35% in 2022 - PM

Ukrainian Prime Minister Denys Shmyhal estimated on Tuesday that his country's gross domestic product (GDP) will decline by at least 35% in 2022 due to Russia's military intervention.

Speaking at the Ukraine Recovery Conference in Lugano, Shmyhal noted the nation's economy has lately experienced some recovery, emerging from the "shock coma" it found itself in in the first month of Russia's operation. "We managed to conduct a relatively successful sowing campaign, restart logistics across the western border, resume part of the production and supply chains, but all this should not be misleading," he warned.

Shmyhal previously predicted his country's economy would shrink by approximately 50% in 2022. Meanwhile, the World Bank projected that Ukraine's GDP will fall by 40% this year.

Baha Breaking News (BBN) / JR