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Economy Minister: Recession in Ukraine more dramatic than expected.

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Due to the destruction of civilian infrastructure by Russia, Ukraine’s gross domestic product will likely fall by 39% year-on-year in 2022, compared to the previous forecast of 35%, Economy Minister Yulia Svyrydenko told Die Zeit. As a response to the recession, Kyiv is taking steps to downsize the government, she said. Svyrydenko also said that she is exploring the possibility of privatizing small state-owned companies.

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The Kyiv Independent news desk

We are the news team of the Kyiv Independent. We are here to make sure our readers get quick, essential updates about the events in Ukraine. Feel free to contact us via email with feedback and news alerts.

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