Economy in three Ukrainian regions of Ukraine grows despite Russian invasion
The GDP of three Ukrainian regions increased last year despite Russia’s full-scale invasion, a study by the Centre for Economic Recovery, a think tank, has revealed.
In a report assessing the economic impact of Russian aggression, the Centre’s experts estimate that the eastern regions suffered the most, with a 30 to 40 percent drop in gross domestic product, while the central and western regions suffered less, with a decrease of 10 to 30 percent.
However, the Ivano-Frankivsk and Zakarpattia regions in western Ukraine and the central Kirovohrad region showed economic growth contrary to the general trend, which was due to the significant migration of people to them.
About 790 companies in Ukraine changed their registration after the start of the full-scale war, of which 623 have already resumed operations in their new locations.
Regionally, the largest number of companies moved to the Lviv region (24 percent), the Zakarpattia region (14.5 percent), the Chernivtsi region (9.8 percent), the Ivano-Frankivsk region (8.3 percent), the Khmelnytskyi region (7.3 percento), and the Ternopil region (6.3 percento).
More than 650 Ukrainian companies that planned to relocate their production facilities have refused to move since territories where they are located have been liberated.
Ukraine’s economy, which fell by 29 percent in 2022, began to recover in the second quarter of 2023.
According to preliminary official estimates, Ukraine’s real GDP grew by 19.5 percent compared to Q2 2022 and, seasonally adjusted, by 0.8 percent compared to the start of the year.
