Ukraine’s real gross domestic product (GDP) growth for January-March 2024 amounted to 4.5% (+/- 1%) from 3.6% (+/- 1%) at the end of January-February.
Growth accelerated to 4.6% (+/- 1%) in March from 3.9% (+/- 1%) in February and 3.5% (+/- 1%) in January this year, according to an estimate released on the website of the Ministry of Economy of Ukraine.
“In March 2024, the trend of recovery growth continued, supported by the stable operation of the Ukrainian maritime corridor (stimulated activity in rail transport, metallurgy and metal ore mining), increased production capacity in the extractive industry, intensified production of mineral fertilizers, increased demand for construction materials, taking place against the backdrop of improved business sentiment … and revival of consumer activity …,” the Ministry of Economy pointed out.
The Ministry added that in March, almost all aggregated economic activities formed a positive contribution to the total GDP. Thus, exports of products of agricultural production and mining and metallurgical complex were provided by the Ukrainian Sea Corridor; and investment demand generated by the budget, as well as the increase in production capacity in the extractive industry formed a positive contribution of production types.
At the same time, it is pointed out that the dynamics of electricity production slowed down significantly in the context of significant rocket attacks in late March, which led to serious damage to energy infrastructure and will require a significant period of time and resources to restore it.
As reported, the National Bank of Ukraine on April 25 worsened its forecast for the country’s GDP growth this year from 3.6% to 3% after 5.3% last year.
When approving the draft state budget for the second reading in early November 2023, the government forecasted GDP growth of 4.6% this year.
Earlier Experts Club analytical center and Maxim Urakin released a video analysis of how the GDP of the world’s countries has changed in recent years, more detailed video analysis is available here – https://youtu.be/w5fF_GYyrIc?si=BsZmIUERHSBJrO_3 Subscribe to Experts Club youtube channel here – https://www.youtube.com/@ExpertsClub
EXPERTS CLUB, GDP, MACROECONOMICS, MINISTRY OF ECONOMY, UKRAINE, УРАКІНА
The National Bank of Ukraine has raised its forecast of international reserves to $43.4 billion at the end of this year from $40.4 billion and to $44.3 billion at the end of next year from $42.1 billion.
“Compared to the previous forecast, the risk of insufficient international financing this year has significantly weakened, but the risks of rhythmicity of its receipt remain,” the NBU said in a press release on Thursday.
The central bank reminded that in March, about $9 billion was received from international partners, which allowed to increase international reserves to almost $44 billion.
In addition, in recent days, Ukraine has received positive news from the United States about the approval of a military and financial assistance package, and another tranche of EUR 1.5 billion has been received from the EU.
“In view of this, Ukraine can count on $38 billion of external budgetary assistance this year,” the NBU said.
According to its updated forecast, the estimate of the current account deficit this year has been downgraded from $16.9 billion to $20.2 billion, but next year it has been improved from $19.8 billion to $18.2 billion.
For more details on macroeconomic indicators of Ukraine and the world, GDP of major countries and other economic topics, please see one of the video analyzes of the Experts club think tank – https://youtu.be/w5fF_GYyrIc?si=Ymo-FlMFNGfLLdK-
You can subscribe to the Experts club channel here: https://www.youtube.com/@ExpertsClub
EXPERTS CLUB, GDP, international reserve, MACROECONOMICS, NATIONAL BANK
The European Parliament of the current convocation will hold its last plenary session this week. The new parliament will be elected in the European elections in the EU member states to be held from June 6 to 9.
During a press conference held on Monday in Strasbourg before the session, the head of the EP press service, Jame Duch, said that 600 journalists would cover the last session of the parliament, and 90 bills would be put to a vote. Among them is a bill to extend Ukraine’s liberal trade regime, which also provides protective measures for EU farmers. The vote will take place on Tuesday. In total, from 2019 to 2024, this ninth parliament passed 3,599 pieces of legislation.
The press service of the European Parliament told Interfax-Ukraine that in the last two years of the institution’s work alone, from September 2021 to April 2024, 40 resolutions related to Ukraine were adopted.
In front of the EP building, among the flags of the European Union member states, which are installed in two parallel rows, the flag of Ukraine, which has been raised since the day of Russia’s invasion, continues to fly. The Ukrainian flag is first, next to the EU flag, symbolizing support. “The Parliament has played a key role in the EU’s response to Russia’s war of aggression, including several rounds of macro-financial assistance, acting to support increased munitions production and the Ukraine Facility,” Duch said.
Earlier, Experts Club and Maksim Urakin presented an analytical material on the most important elections in the world in 2024, more detailed video analysis is available here – https://youtu.be/73DB0GbJy4M
You can subscribe to the channel here: https://www.youtube.com/@ExpertsClub
France, India and Greece are openly arming Armenia, and Baku will take serious measures if the situation poses a threat to Azerbaijan, Azerbaijani President Ilham Aliyev has said.
“We cannot just sit and wait. We have clearly communicated our position to the Armenian government and the parties that are trying to take care of Armenia today. If we see a serious threat to ourselves, we will have to take serious measures,” Aliyev said on Tuesday at a meeting in Baku with participants of the international forum “COP29 and Green Vision for Azerbaijan” organized at the ADA University.
The President noted: “France, India and Greece are openly arming Armenia and are trying to prove something to Azerbaijan in this way.
Earlier, the Experts Club think tank created a video analysis of the post-war situation in the Caucasus – https://youtu.be/reyUMjFBFhU?si=qpqLleFVqZJ30GuV
In response to the growing need for comprehensive support for wounded who have been seriously injured in the war zone, a modern rehabilitation hub is being built in Kyiv. This project was implemented thanks to the cooperation of the Center for Saving Lives, the Association of Osteo-Integrative Prosthetics and the Esculab Laboratories network.
“Our center was created to provide our military with the best possible assistance in recovering from severe injuries. We provide not only physical rehabilitation with the help of modern equipment, but also psychological support,” said Vyacheslav Zaporozhets, director of the Center for Saving Lives charitable foundation.
According to him, the project is unique in that it uses not only the most advanced technologies for physical rehabilitation, but also creates conditions for social adaptation and moral recovery of the military.
“We want every wounded soldier who has undergone amputation to be able to return to a full life,” emphasized Mr. Zaporozhets.
In his turn, co-founder of the Esculab laboratory, Serhiy Dyadyushko, also noted the importance of the work for the veterans’ recovery.
“The network of laboratories “Esculab” is not only about business. We are honored to be a part of this project. Our participation is not limited to financing; we are also actively involved in the process of education and training of specialists, which allows us to maintain a high level of services provided at the center,” he emphasized.
The center will be equipped to the highest standards, including anti-gravity walkways and group exercise spaces that allow patients to feel comfortable and safe during their rehabilitation.
The rehabilitation center is being built on a 500-square-meter area and includes a modern walking laboratory, a wrestling room, a cardio zone, a strength training zone, a dental office, two physiotherapy rooms, a meditation and sleep room, an occupational therapy kitchen, a mini shooting range, locker rooms and showers, etc. The center can accommodate 30 patients at a time.
The project is part of a larger initiative aimed at creating a network of similar centers across the country to ensure access to high-quality rehabilitation services for all victims.
“Eskulab is a network of medical laboratories of international quality of diagnostic tests based in Lviv and has one of the largest networks of branches in Ukraine. The network includes more than 100 sampling points in the cities and towns of Lviv, Ivano-Frankivsk, Chernivtsi, Zakarpattia, Khmelnytsky, Ternopil, Rivne, Volyn regions and Kyiv. “Eskulab provides patients with the opportunity to take tests at their place of residence and receive highly accurate results. In February 2020, Esculab Medical Laboratory underwent a voluntary assessment of its measurement capabilities in accordance with the requirements of DSTU ISO 10012:2005 “Measurement management systems. Requirements for measurement processes and measuring equipment” to confirm technical competence and received a Certificate of Conformity of the measurement management system. Today, Esculab performs more than 820 types of laboratory tests.
You can learn more about the initiative to build a rehabilitation hub in the video on the Experts Club YouTube channel here:
Esculab, EXPERTS CLUB, MEDICAL_AID, MEDICINE, REHABILITATION, SERGIY_DYADYUSHKO, TYTANOVI, VYACHESLAV_ZAPOROZHETS
Experts Club hosted a training aimed at psychological rehabilitation of people affected by the consequences of war. This training was part of a larger project organized by the Experts Club in cooperation with the NGO Club of Experts and the ADONIS network of centers. The initiative aims to support and restore the mental health of people who are under stress or have been victims of psychologically traumatic events.
According to Maksym Urakin, founder of the Experts Club, the rehabilitation course will consist of 8 trainings in three stages. The first stage focuses on the diagnosis of stress and post-traumatic conditions using internationally recognized methods, such as the Impact of Traumatic Events Scale (IES-R), the Trauma Screening Questionnaire (TSQ) and others. The next step is art therapy, where participants have the opportunity to work with qualified psychologists, and the final stage is to evaluate the results and develop further recommendations.
“Our goal is to show that recovery is possible, and every affected person can find support and a path to recovery,” – emphasized Maksym Urakin.
Inna Prysyazhna, training leader and psychologist-consultant of the ADONIS medical centers network, emphasized that art therapy uses primarily creative methods, such as painting, sculpture, composing poetry, fairy tales, etc.
“All this is used to express inner feelings and fears. This not only improves mood, but also helps participants find inner harmony and self-confidence. Art therapy does not just treat, but provides tools for self-help and self-realization. It promotes the development of skills that allow you to better cope with everyday challenges,” the psychologist notes.
The project is funded by the Experts Club project’s own funds. In addition, the initiative actively interacts with the media and social networks to raise public awareness of PTSD and the importance of psychological rehabilitation.
“Experts Club is an analytical center with its own video studio and educational center. The art therapy project is implemented in partnership with the Institute of Psychology.
