The Ukrainian economy collapsed by almost a third last year as a result of the war of aggression launched by Russia. According to the Ukrainian statistical office, economic output fell by 29.1 percent in 2022. Exports fell by more than 40 percent because of the Russian blockade of Ukrainian seaports. The strongest slump was recorded in the construction industry, which shrank by two thirds, as the announcement on Thursday night further revealed.
The energy industry, which was particularly hard hit by Russian missile and drone attacks, produced a third less. In addition, Russian troops had captured several power plants after their invasion more than 13 months ago. Among them is the largest nuclear power plant in Europe with six reactors and a net output of 5700 megawatts near Zaporizhia. Because of the danger of artillery fire, it had to be shut down completely in September.
Because of the ongoing war, the central bank and the government in Kiev only expect weak economic growth of no more than one percent for this year. After an inflation rate of 26.6 percent in the previous year, the government and central bank expect a less sharp price increase for 2023, but the forecasts vary between 18 and 24 percent. According to UN figures, more than eight million Ukrainians have left the country since the start of the war. (dpa)