Due to the full-scale aggression of russia, 2022 has become the most difficult year for the Ukrainian economy. According to the Ministry of Economy, the preliminary estimate of GDP decline is 30.4%. This was stated by Prime Minister Denys Shmyhal during a Government meeting on January 6.

“Despite such a significant decrease, it is better than all our previous forecasts. When russia started terrorist shelling of our critical infrastructure, there were significant fears that the economy could fall by 35-40%. This did not happen,” Denys Shmyhal stressed.

The Prime Minister noted that the air defense forces managed to shoot down most of the russian missiles, and power engineers managed to keep the energy system integral. The Government, for its part, worked with partners to obtain batches of generators, transformers and other equipment necessary for the repair of power grids.

Also, according to the Head of Government, Ukrainian business has once again shown incredible adaptability. Almost 670,000 generators of various capacities were imported. The Prime Minister noted that the Government, in turn, introduced zero customs clearance for small generators, as well as provided the business with an opportunity to obtain a loan for such generators at 0% for up to 5 years.