Ukraine’s GDP rose 4.2% year-on-year in Jan-Oct, economy minister says By Reuters

KYIV (Reuters) – Ukraine’s gross domestic product grew by 4.2% year-on-year from January to October due to growth in the construction, transport and repair industries, the economy ministry said.

It said in a statement that GDP grew by 1.3% in October compared to the same month last year.

The Ukrainian government has implemented plans to rebuild wartime damage as the Russian offensive reaches the 1,000-day mark this week. It fueled the demand for construction jobs and supported expansion in the construction sector, said Oleksiy Sobolev, first deputy minister of economy.

Sobolev said that the transportation and processing industries are the leading economic growth in the ten months of the year.

The government expects the Ukrainian economy to grow by 4% this year.

Next year, the government predicts a slower economic growth of around 2.7% as the war, security risks, expected energy shortages, and labor shortages will limit growth.