The growth of the gross domestic product (GDP) of Ukraine in January-August 2021 accelerated to 2.9% compared to 2.1% in January-July 2021, the Ministry of Economy has said.
“In January-August 2021, according to the calculations of the Ministry of Economy, the composite production index (CIP) grew by 2.1% (by 1.3% in January-July 2021, a fall of 5.8% in January-August 2020), GDP – by 2.9% (2.1% in January-July 2021, a fall of 5.7% in January-August 2020),” the ministry said in the August survey of economic activity published on Monday.
As the ministry said, in August 2021, an increase in production volumes was demonstrated by almost all types of economic activity, except for wholesale trade, which was supported by a high price level on global commodity markets, an active increase in agricultural production, and optimistic business sentiments amid the “green” level of epidemic danger throughout territory of the country.
“The existing recovery growth does not allow us to speak of a full-fledged post-crisis economic recovery, this requires more time. In addition, the internal economic recovery is also influenced by global changes and risks,” the Economy Ministry said.
Among the pressure factors is the aggravation of political and economic relations between individual countries, Russia’s abuse of a dominant position in the gas market and a sharp rise in gas prices, as well as the spread of a new wave of a mutated strain of coronavirus in the world.
As reported, in 2020, the Ukrainian economy fell by 4%. This year, the Ministry of Economy and the government expect growth by 4.1%, and the National Bank – by 3.8%.
