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Ukraine's economy could contract 40% in 2022, ministry says

Published 04/02/2022, 03:59 AM
Updated 04/02/2022, 04:00 AM
© Reuters. A local man walks past a damaged armoured personal carrier, as Russia?s attack on Ukraine continues, in the town of Makariv, in Kyiv region, Ukraine April 1, 2022. Picture taken April 1, 2022. REUTERS/Serhii Mykhalchuk

© Reuters. A local man walks past a damaged armoured personal carrier, as Russia?s attack on Ukraine continues, in the town of Makariv, in Kyiv region, Ukraine April 1, 2022. Picture taken April 1, 2022. REUTERS/Serhii Mykhalchuk

(Reuters) - Ukraine's economy shrank 16% year-on-year in the first quarter of this year and could contract 40% in 2022 as a result of Russia's invasion, the economy ministry said in a statement on Saturday, citing preliminary estimates.

"Areas in which remote work is impossible have suffered the most," it said.

Latest comments

How much longer can we stand back and watch Ukraine die? morally indefensible
For as long as we stand back and watch Yemen people die... so a few decades
you want to help???? Join Ukraine Foreign Legion!!!! they have free food, free shelter, and free guns.... and according to CNN, Ukraine is winning....
and you watch RT or RT affiliate OAN?
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