Ukraine's GDP growth slows down to 2.9% in 2024 - State Statistics Service

MOSCOW. April 1 (Interfax) - Ukraine's GDP grows slowed down to 2.9% in 2024 from 5.5% in 2023, following a 28.8% decline in 2022, Ukrainian media said, citing a statement by the State Statistics Service.

The GDP decreased by 0.1% in the fourth quarter of 2024, after growing 2.2% in the third quarter, 4.0% in the second quarter, and 6.8% in the first quarter, the statement said.

The State Statistics Service estimates last year's normal GDP of Ukraine at UAH 7.659 trillion with a 12.3% deflator, including UAH 2.194 trillion nominal GDP with a 12.8% deflator in the fourth quarter.

As reported, the Economy Ministry earlier estimated Ukraine's GDP growth at 3.6% in 2024, versus the 3.4% GDP growth estimate by the National Bank.

This year, the IMF expects the economic growth closer to the lower range of 2%-3%, compared to 3.6% forecast of the National Bank, and the 2.9% forecast in the state budget.