Ukraine’s Economy Grows Year-on-Year, First Time Since War Began
- Second-quarter growth comes after steep drop since 2022
- Central bank expects economy to grow by 2.9% in 2023
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Ukraine’s war-battered economy climbed for the first time on an annual basis since Russia invaded last year as it clawed back from a steep drop and spending rose among consumers adjusting to the conflict.
After plummeting in the months after the Kremlin’s February 2022 attack and further in 2023, gross domestic product jumped 19.5% year-on-year in the second quarter, according to data published by the State Statistics Service.