In the third quarter of this year, the country’s GDP grew by 9.3% compared to the same period last year. This is higher than expected. This was underlined by Prime Minister Denys Shmyhal at a Government session on 12 December.

“Despite the huge economic downturn at the beginning of the large-scale war, the economy is now showing positive signs,” said Denys Shmyhal.

According to the Prime Minister, the economy is being positively influenced by the Government’s business support programmes, the reconstruction of infrastructure, the stable operation of the south-western export logistics corridor and other factors.

“We have also managed to control inflation. Compared to November last year, consumer inflation was 5.1%. This is lower than in some of our western neighbours,” the Head of Government noted.

The Prime Minister added that the second wartime harvest of some 78 million tonnes was almost complete. According to the Ministry of Agrarian Policy and Food, the total harvest will be 81.3 million tonnes. This is 20% more than expected during the sowing campaign.

Denys Shmyhal stressed that the Ukrainian economy was proving highly adaptable, which would accelerate recovery and create growth points for the future.