The Ministry of Economy estimates gross domestic product growth in June at 1.1% (±1%) compared to June last year. In general, for the first half of the year, GDP growth is estimated at 4.1%. This was reported by the press service of the Ministry of Economy.
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Factors
The main factor behind the slowdown in economic growth was power outages due to power shortages. However, despite the negative factors, economic recovery continues, the department noted.
Positive factors that influenced economic growth include the stable operation of the Ukrainian sea corridor and the ability of individual enterprises to ensure stable access to electricity thanks to direct import.
At the same time, the analysis shows that the shortage of qualified personnel negatively affects business expectations.
June indicators
In June, positive dynamics in domestic trade continued. The construction sector also grew, where the main drivers of growth were budgetary funding for the restoration of damaged critical infrastructure, capital restoration, as well as repair of road surfaces in emergency areas.
There was also significant growth in agriculture due to an earlier start of harvesting due to the weather factor, which made it possible to cultivate large areas and collect large volumes of crops.
In livestock farming, positive dynamics continue due to stable demand in the domestic market and government support for producers. At the same time, the increase in production costs due to the use of backup power negatively affects poultry producers, in particular egg producers.
- GDP
