Page 29 - UKRRptOct23

3.0 Macro Economy
3.1 Macroeconomic overview
Ukraine put in the first positive growth of 19.5% in the second quarter of this year y/y, bouncing back into positive territory on low base effects, Ukrstat reported on September 22.
Ukraine’s economy experienced a deep collapse after Russia’s invasion in February 2022, with the peak contraction of 37.2% y/y in the second quarter of last year. That was worse than the peak contraction of -17% recorded in the second quarter of 2015 following the start of the Euromaidan revolution.
Taking seasonal factors into account, the GDP for the second quarter of 2023 experienced an uptick, growing by 0.8% compared to the previous quarter.
Over the course of the past year, Ukraine's GDP has faced significant challenges, culminating in a 29.1% overall contraction, according to data from the State Statistics Service.
29 UKRAINE Country Report October 2023 www.intellinews.com