Ukraine's economy shrank by nearly 30 percent in the first nine months of this year (January-September) due to the war. Ukraine's economy took a major hit after Russia's attack on the country in February. As a result, the country's economy has shrunk by about one-third in the first 9 months of this year compared to last year. According to the data of the Ministry of Finance of the country, this contraction of the economy has occurred due to the war. Reuters news.
The Ministry of Finance of Ukraine says that due to the war, the production, import and supply of various industries in the country are being severely disrupted. Recently, the supply from the nuclear power plant in the southeastern city of Zaporizhzhya was shut down. Also due to bad weather in the month of September it was not possible to harvest the desired amount. It has slowed down the economy.
Ukraine saw its first export growth last September since the war broke out in February, even as the economy contracted. Last month, the country's exports increased by 23 percent compared to August. Last July, Ukraine signed an agreement with Russia under the auspices of the United Nations to transport goods through the Black Sea. As a result of that agreement, the export of goods from the country started to increase.The Ministry of Finance of Ukraine told Reuters that the country's economy improved slightly in September.
However, Russia continues to shell Ukrainian territory. As a result, both exports and domestic trade are hampered. And the government is also under pressure. The economy is slowing due to continued decline in production, destruction of infrastructure and residential buildings.
vAlong with that, there is uncertainty about how long the ongoing war will last. The country's development activities are also being hindered to an extreme extent.
A forecast by Ukraine's central bank last July said the country's economy could shrink by one-third this year. However, in 2023 and 2024, the economy of Ukraine will grow by 5 and 6 percent respectively. Meanwhile, the World Bank said in a statement that Ukraine's economy will shrink by about 45 percent this year.
Along with that, there is uncertainty about how long the ongoing war will last. The country's development activities are also being hindered to an extreme extent.
A forecast by Ukraine's central bank last July said the country's economy could shrink by one-third this year. However, in 2023 and 2024, the economy of Ukraine will grow by 5 and 6 percent respectively. Meanwhile, the World Bank said in a statement that Ukraine's economy will shrink by about 45 percent this year.
Putin blames Ukraine for explosion on Crimean bridge
Russian President Vladimir Putin blamed Ukraine for the Crimean bridge explosion. He also called this attack a 'terrorist act' and commented yesterday on Sunday. The bridge connecting Russia with Crimea was damaged by a powerful explosion the previous day. Reuters news.
There is no doubt about it, Putin said in a video posted on the Kremlin's Telegram channel. It is a terrorist act aimed at destroying vital civilian structures.
Russian President Vladimir Putin also said that the attack was planned, participated and ordered by the special services of Ukraine.
Before Putin's speech, Russia launched a missile attack on the southern Ukrainian city of Zaporizhzhia early yesterday. At least 13 people were killed and 89 injured in the attack on an apartment block and several residential buildings, Ukrainian officials said.
Putin met with Alexander Bastrykin, head of Russia's Investigative Committee. He highlighted the facts found in the investigation of last Saturday's car explosion and subsequent fire on the bridge.
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