Last year, Ukraine's real GDP growth slowed to 2.9% compared to 5.5% in 2023, and by the end of 2024, the economy showed negative dynamics. Such data was released by the State Statistics Service.
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Gradual braking
The economic recovery has been losing momentum throughout the year. In the first quarter of 2024, GDP increased by 6.8% compared to the same period of the previous year, but in the second quarter the rate slowed to 4%, in the third – to 2.2%. The fourth quarter ended with a decline of 0.1%, which was the first negative indicator for the year.
The big picture
The slowdown in growth to 2.9% by the end of 2024 indicates a weakening of the economic recovery observed a year earlier. At the end of the year, the country faced recessionary signals, which may indicate new challenges to financial stability.
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- GDP