Ukraine’s real gross domestic product (GDP) in the first quarter of 2022 decreased by 19.3% against the previous quarter.
This was reported by the State Statistics Service, Ukrinform reports.
“According to operational estimates, real GDP in the first quarter of 2022 decreased compared to the previous quarter by 19.3% (seasonally adjusted), and by 15.1% against the first quarter of 2021,” the statement reads.
As Vigilant reported earlier, the National Bank expects that real GDP in 2022 may fall by at least a third due to the ongoing war.
In 2021, real GDP growth in Ukraine was 3.4% after falling by 4% in 2020.
A reminder that, on February 24, 2022, Russian President Vladimir Putin initiated a full-scale invasion of Ukraine, starting a war. Russian troops are shelling and destroying the key infrastructure facilities, launching missile and air strikes on residential areas in Ukrainian cities and villages, torturing and murdering civilians.