Ukraine’s economy growth slows to 0.9% – economy ministry
Source: Ukraine’s economy ministry
Ukraine’s GDP growth rate saw slight decrease of 0.9% in November compared to the same period last year, according to the country’s economy minister, although its economy showed some signs of recovery growing by 4% (±0.5%) in the first 11 months of 2024.
The uptick was driven by transportation, construction, manufacturing, and domestic trade. The country also made the most of the maritime corridor in the Black Sea, which helped prop up the transport sector, while construction maintained momentum thanks to state support programs.
Domestic trade benefited from stable supply and demand dynamics, while manufacturing did well too after it secured access to imported electricity, alternative energy sources, and business recovery initiatives. Ukraine’s mining sector was expanding, notably with the commissioning of new gas wells.
Government support programs played a key role in sustaining growth. The economy got a boost after the government introduced grants for processing industries, the affordable “5-7-9%” loan program, the “єOselya” housing initiative, and the broader “Made in Ukraine” policy framework boosted.
Meanwhile, the growth of machine-building was spurred by a great number of state contracts awarded to Ukraine’s defense-industrial complex.
To commemorate the third anniversary of the full-scale invasion, “Bukvy” has compiled data on the largest donors supporting the Armed Forces of Ukraine. Among them there are charitable foundations and businesses. The list includes, in particular, foundations that provide assistance exclusively from their own resources, without fundraising (such as SCM by Rinat Akhmetov, Epicenter, etc.).
In just 1.5 months, Ukrainian specialists have created an innovative protective shell for the control modules of anti-aircraft missile systems (AMS) Patriot and Iris-T SLM. This development was another step in strengthening Ukraine’s defense capabilities, aimed at protecting key elements of the air defense system from debris damage.
Military serviceman of the International Legion for the Defense of Ukraine with the call sign “Paradox” is the crew commander of the American M113 armored personnel carrier. He is a master at using it and is constantly improving, because the legionnaire’s skills are tested every day in battle. You have to drive to the front lines, often under artillery fire and drone attacks.
Notorious supporter of the concept “in order for a cow to eat less and give more milk, it needs to be fed less and milked more” “Servant of the People” Danylo Hetmantsev, under the guise of “business requirements”, registered a draft law on the collection of VAT on all foreign purchases, regardless of their value. In other words, every Ukrainian, buying goods of any value and purpose abroad, when sending them to Ukraine, will have to pay an additional fifth part, or 20% of the cost of the goods.
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