In an interview with French broadcaster TF1 on May 13, Macron discussed new Russia sanctions and stationing French nuclear weapons in other European countries as a deterrent against Russia.
Performing their song "Bird of Pray," Ukrainian band Ziferblat passed the Eurovision semi-finals on May 13, qualifying Ukraine for the grand final on May 17.
Kremlin spokesperson Dmitry Peskov confirmed that a Russian delegation will be in Istanbul on May 15 for direct peace talks with Ukraine. Foreign Minister Sergey Lavrov and Putin’s foreign policy aide Yuri Ushakov will likely represent Russia.
The move follows Ukraine's ratification of the minerals agreement, deepening U.S.-Ukraine economic ties and signaling expanded U.S. involvement in Ukraine's long-term recovery.
"Ukraine has initiated a coordinated campaign to vilify Hungary in order to undermine our initiative to hold a poll on (Kyiv's) EU membership," Hungarian Prime Minister Viktor Orban said.
German Chancellor Friedrich Merz warned that further concessions from Ukraine during negotiations would be unreasonable if Russia continues to attack civilian targets.
U.S. President Donald Trump's special envoys, Steve Witkoff and Keith Kellogg, will travel to Istanbul for possible peace talks between Ukraine and Russia, Reuters reported on May 13, citing three undisclosed sources.
President Volodymyr Zelensky said he will meet with Turkish President Recep Tayyip Erdogan in Ankara, but said both leaders are ready to fly to Istanbul if Russian President Vladimir Putin chooses to attend the talks there.
Ukraine's economy experienced year-on-year GDP growth for the first time since the start of the full-scale invasion. (Photo by Sergii Kharchenko/NurPhoto via Getty Images)
Ukraine’s gross domestic product grew by 19.5% year-on-year in the second quarter of 2023, signaling the economy’s successful adaptation to wartime conditions following last year’s collapse.
The result is higher than the Economy Ministry's forecasted results and "indicates that the economy is adapting to the war," Economy Minister Yuliya Svyridenko said in a statement published online.
"Importantly, the vast majority of economic activities demonstrated positive trends," she said.
Actual GDP growth compared to the previous quarter of this year equates to 0.8%, adjusted for seasonal factors.
Russia's war against Ukraine has significantly impacted Ukraine’s economy, with peak GDP contraction of 37.2% year-on-year recorded in the second quarter of last year. In total, Ukraine’s GDP declined by an alarming 29.6% last year.
The boost in GDP in the second quarter of this year is due to an increase in domestic demand, as well as the adaptability of Ukraine's businesses and the government's response, international trade, and outside assistance.
Subscribe to the Newsletter
Ukraine Business Roundup
“The restoration of domestic demand was facilitated by the continuation of production adjustment, including thanks to business support programs from the budget, and work on the restoration of production facilities and infrastructure facilities financed from the budget and funds provided by international partners,” the Economy Ministry stated.
International aid this year bolstered the state budget by $31 billion, the ministry said.
Overall, the ministry is more positive about Ukraine’s economic development and earlier this month increased its forecast of GDP growth to 4% by the end of 2023, 3.5% in 2024 and 6.8% in 2025.
Other predictions are more conservative but are still an improvement compared to the start of the year. The NBU revised its forecast in July to 2.9% GDP growth this year, up from 2% previously, although it downgraded next year’s estimate by 0.8% to 3.5%.
Meanwhile, the ratings agency Fitch Ratings predicts GDP growth will amount to 3.5% in 2023 and 4% next year.
Dominic is the business reporter for the Kyiv Independent. He has written for a number of publications including the Financial Times, bne IntelliNews, Radio Free Europe/Liberty, Euronews and New Eastern Europe. Previously, Dominic worked with StopFake as a disinformation expert, debunking Russian fake news in Europe.
The Kyiv Independent news desk
