Ukraine’s economy to shrink by at least 35% in 2022

Beijing: Ukraine’s GDP will shrink at least 35 per cent this year due to the conflict with Russia, the Interfax-Ukraine news agency reported, citing Ukrainian Prime Minister Denys Shmyhal.

While addressing the Ukraine Recovery Conference in Switzerland, Shmyhal said that the Ukrainian economy has started recovering from the “shock coma” of the first weeks of the conflict.

The government carried out a “relatively successful” grain sowing campaign and resumed logistics across the western border, Shmyhal said, noting that the economy still faces many challenges, Xinhua news agency reported.