Page 25 - UKRRptAug22

3.0 Macro Economy
3.1 Macroeconomic overview
Economic activity has begun recovering in Ukraine. In Ukraine, economic activity is gradually recovering after a significant drop at the beginning of the full-scale invasion by the Russian Federation, said Deputy Chairman of the National Bank Serhii Nikolaychuk. As he clarified, this does not mean that the GDP is growing but that the depth of the fall is decreasing. The economy's recovery can be seen in the following indicators: revitalization of trade networks, increase in restaurant turnover, and a drop in the number of non-working businesses. In addition, exports are also gradually recovering. However, the biggest obstacle here is the blockade of Ukrainian ports. Nikolaychuk reminded observers that the state has adopted several decisions to support Ukrainian business. They allowed the import of any products and extended the settlement terms for export-import operations.
The damage caused by the war to the land and air of Ukraine is estimated at UAH 250B. Since the beginning of the full-scale war, damage to the land and air of Ukraine has been caused, amounting to UAH 254.3B, stated the State Inspection. According to the agency, during the four months of the full-scale invasion, the most significant damage was caused to: land and soil - in a total amount of almost UAH 80.5B, air - in a total amount of more than UAH 173.8B. In the Luhansk Region alone, due to military actions, the environmental damage was more than UAH 98.7B. At the same time, the greatest damage to land and soil was caused in the Lviv and Kharkiv regions, amounting to UAH 33.2B and UAH 22.2B, respectively.
25 UKRAINE Country Report XXXX 2018 www.intellinews.com