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Ukraine's economy grew 5.3pc in 2023, statistics service says

A view shows a grain terminal in the sea port in Odesa after restarting grain exports, as Russia's attack on Ukraine continues, Ukraine August 19, 2022. REUTERS/Valentyn Ogirenko/File Photo
A view shows a grain terminal in the sea port in Odesa after restarting grain exports, as Russia's attack on Ukraine continues, Ukraine August 19, 2022. REUTERS/Valentyn Ogirenko/File Photo

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Ukraine's economy grew by 5.3 per cent in 2023 after contracting by almost a third in the first year of Russia's full-scale invasion, the statistics service said on Thursday.
 
The GDP figure was slightly higher than the figure of 5 per cent given by Economy Minister Yulia Svyrydenko in January.
 
The statistics service has not been publishing full data during the war. Thursday was the first time they had given a figure for annual gross domestic product since the invasion.
 
It gave no details on the drivers of the growth in its one-line statement.
 
Ukrainian officials say GDP plunged 28.8 per cent in 2022 and hope it will grow by 4.6 per cent this year.
 
The economy is highly dependent on financial assistance from the West. Vital assistance from the United States has been stuck in Congress for months due to Republican opposition.
 
Finance Minister Serhiy Marchenko said in televised comments that he was optimistic that the US aid package would be passed in April.
 
"There are all the grounds for this ... We are quite optimistic although there could be various unexpected things," he added.
 
 
 
 

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