The Ministry of Economy expects the gross domestic product to grow by 6% in the second quarter of 2021, compared to the same period in 2020, according to a July 19 report.
The ministry forecasts that in total, GDP will grow by 4.1% in 2021.
“In the future, we expect that construction and agriculture in the summer months will compensate for the lag,” the ministry stated. “The price situation in foreign raw materials markets will also accelerate growth, which will be a key support for the activities of domestic exporters.”
According to the State Statistics Service, GDP fell 2.2% in the first quarter compared to the same period of last year.
GDP grew by 0.7% from January to May, which is slower than expected. The ministry blamed rising global prices and lagging performance in Ukraine’s construction and agriculture sectors.
