Kiev, Mar 15 (IANS): Ukraine's GDP shrank by 29.2 per cent in 2022, state media reported, citing an estimation by the country's Economy Ministry.
The economic decrease reflected depressed household consumption, a decline in investment activity, and negative pressure on export and import operations caused by the Russia-Ukraine war, the government-run Ukrinform news agency reported on Tuesday.
Ukraine's GDP performance last year was better than the initially estimated decline of 30.4 per cent due to better-than-expected dynamics in the fourth quarter, Xinhua news agency reported.
According to official statistics, Ukraine's real GDP declined by 31.4 per cent year-on-year in October-December of 2022.
Earlier this month, the Economy Ministry slashed its forecast for the country's GDP growth this year to 1 from 3.2 per cent estimated earlier.