
Analysis by Region - Europe
Description
Analysis by Region - Europe
According to the Ministry of Economy, Ukraine's GDP likely contracted by 16% in Q1, which is consistent with a contraction of about 45% in March. But survey data from April suggests the country has started to adjust to "war economy" conditions. We still see the economy shrinking by about 35% y/y this year, as prolonged fighting in parts of Ukraine is partially offset by adjustment in the rest of the regions.
According to the Ministry of Economy, Ukraine's GDP likely contracted by 16% in Q1, which is consistent with a contraction of about 45% in March. But survey data from April suggests the country has started to adjust to "war economy" conditions. We still see the economy shrinking by about 35% y/y this year, as prolonged fighting in parts of Ukraine is partially offset by adjustment in the rest of the regions.
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