How the economy of Ukraine survived and changed during the year of the war

During the year of Russia’s barbaric war against our country, the national economy fell by one-third, but thanks to the hard work of millions of Ukrainians and the help of the world, it managed to survive and has good prospects for recovery.

An essential component of the resilience of the Ukrainian economy is the morale of domestic entrepreneurs. This was stated by Dmytro Goriunov, senior economist at the Centre for Economic Strategy, in a commentary to UNIAN.

“Since mid-spring, all surveys of entrepreneurs conducted by business associations have shown that economic life is recovering. In the summer, the National Bank resumed its surveys, and the indices were rising – until the energy sector was hit.

But even after that, businesses did everything in their power – changed work schedules, bought generators, batteries and other equipment, etc.” the expert said.

For the second year of the war, the state’s top priority remains to win over the cruel enemy and liberate all Ukrainian land from the occupiers. This will be the primary condition for improving the economic situation. Clearly, in these difficult conditions, we need to be flexible and not look for a single universal solution.

“Of course, we need to improve the business environment in various ways, but we should understand that normal recovery is possible only after the victory, so the main efforts and resources should be directed to this,” said Goriunov, senior economist at the Centre for Economic Strategy.

Source: UNIAN