Support our war crimes investigations unit Support
Skip to content

News Feed

7:31 PM
Vyacheslav Gladkov, governor of Russia's Belgorod region, claimed on June 9 that a drone crashed into an office building and caught fire in the city of Belgorod. Later the same day, Russia's Kursk region Governor Roman Starovoyt reported a drone crash near an oil depot in the regional capital.
6:17 PM
Ukrainian troops have advanced up to 1,200 meters in some areas in the Bakhmut direction, Serhii Cherevaty, the spokesperson for the eastern command of the Armed Forces of Ukraine, said on June 9.
Want to partner with the Kyiv Independent?
Contact the Tellers Agency to connect your brand with independent media.
Contact
Ukraine Daily
News from
Ukraine in your
inbox
MORE NEWS

watch us on facebook

Edit post

Ministry: Ukraine’s GDP fell by 30.4% in 2022.

by The Kyiv Independent news desk January 5, 2023 1:40 PM 1 min read
This audio is created with AI assistance

Ukraine’s gross domestic product (GDP) dropped by 30.4% in 2022, according to a preliminary estimate by the Economy Ministry.

“This is objectively the worst result since independence (in 1991), but better than most experts predicted at the beginning of (Russia’s) full-scale invasion, when estimates ranged from 40-50% and more,” the ministry said.

For comparison, in 2021 Ukraine’s economy grew by 3.4%, the ministry added.

In December, Ukraine’s GDP decrease was not as dramatic as in November since the electricity supply situation was somewhat stabilized, according to the Economy Ministry.

However, further Russian attacks on Ukraine's energy system have continued to put pressure on Ukrainian businesses, the ministry said.

Russian forces have fired more than 1,000 missiles and drones at Ukrainian energy infrastructure since Oct. 10, according to Volodymyr Kudrytsky, CEO of electricity grid operator Ukrenergo.

The attacks have killed dozens of people and led to frequent blackouts.

The Kyiv School of Economics reported in December that Russia had caused damage worth $136 billion to Ukraine’s residential and non-residential real estate and other infrastructure as of November.

Support independent journalism in Ukraine. Join us in this fight.
Freedom can be costly. Both Ukraine and its journalists are paying a high price for their independence. Support independent journalism in its darkest hour. Support us for as little as $1, and it only takes a minute.
visa masterCard americanExpress

Editors' Picks

Support us

Enter your email to subscribe

Please, enter correct email address

Subscribe

* indicates required
* indicates required

Subscribe

* indicates required
* indicates required

Subscribe

* indicates required
Successfuly subscribed
Thank you for signing up for this newsletter. We’ve sent you a confirmation email.