According to the results of the 1st quarter of the year, the reduction of the GDP of Ukraine on an annual basis amounted to 10.5%, but compared to the 4th quarter of last year, the real GDP increased by 2.4%.

 This was reported by the press service of the Ministry of Economy with reference to the data of the State Statistics Service.

 The department notes that the 10.5% contraction of the economy is much better than the previous estimates of the ministry (-14.1%).

 "Such data indicate that Ukraine's economy is adapting and recovering at a faster pace than previously predicted. It continues to work and overcome the challenges of the war. And this is confirmed by the growth of seasonally adjusted real GDP in the 1st quarter of 2023 compared to the 4th quarter of 2022. year by 2.4%", - said First Vice Prime Minister - Minister of Economy Yuliya Svyridenko.

 Government measures to stabilize the energy situation and solve logistical problems, including access to certain seaports within the framework of the grain agreement, are supporting business and the population.

 The improvement of economic growth is also facilitated by the implementation of enterprise recovery and support programs that facilitate access to financial resources, in particular the "Affordable loans 5-7-9%" and "eRobota" programs. As well as financing the restoration of destroyed infrastructure, residential and social facilities.

 "All this becomes possible thanks to the international aid provided by the partner countries, which in the complex feeds the restrained optimism of the subjects of economic activity," the minister emphasized.

 At the same time, military aggression continues to form new shocks and trials for the Ukrainian people:

 delay in the operation of the grain corridor;

 restrictive measures by neighboring countries regarding the import and transit of Ukrainian agricultural goods;

 consequences of the destruction of the Kakhovskaya HPP

 As the Ministry of Economy added, positive dynamics of GDP were also observed in the II quarter.

 It should be noted that economists last year agreed on more pessimistic scenarios for the Ukrainian economy at the beginning of 2023. Estimates ranged from 25% to 70% of GDP falling in the first quarter due to power outages.