Ukraine’s economy grew 5.3% last year as it reasserted control of a Black Sea export corridor and harvested a bumper crop despite continued Russian missile and drone attacks.
The economy expanded 4.7% in October through December, for a third straight quarter of growth, according to preliminary data from the State Statistics Service on Thursday. The economy shrank almost 30% in 2022 after Russian President Vladimir Putin ordered the invasion.
While Russian attacks have damaged the power grid, ports, railroads and energy facilities, Ukraine has seen a measure of growth return as agricultural exports resume and domestic businesses adapt to new demands.
“The Ukrainian economy continued to show remarkable resilience in 2023,” the IMF said in a report last week.
It unstainable economic growth. It all military infrastructure.
This happens to all countries during war. Massive spending and development of the ability to make guns.
When peace comes their will be a huge contraction of the economy as those factories have to be retooled for peace.
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*From Bloomberg News reporter Volodymyr Verbianyi:*
Ukraine’s economy grew 5.3% last year as it reasserted control of a Black Sea export corridor and harvested a bumper crop despite continued Russian missile and drone attacks.
The economy expanded 4.7% in October through December, for a third straight quarter of growth, according to preliminary data from the State Statistics Service on Thursday. The economy shrank almost 30% in 2022 after Russian President Vladimir Putin ordered the invasion.
While Russian attacks have damaged the power grid, ports, railroads and energy facilities, Ukraine has seen a measure of growth return as agricultural exports resume and domestic businesses adapt to new demands.
“The Ukrainian economy continued to show remarkable resilience in 2023,” the IMF said in a report last week.
It unstainable economic growth. It all military infrastructure.
This happens to all countries during war. Massive spending and development of the ability to make guns.
When peace comes their will be a huge contraction of the economy as those factories have to be retooled for peace.