Oct 8 (Reuters) – Ukraine’s economy shrank by an estimated 30% in the first three quarters of 2022 compared to the same period in 2021, mainly due to the Russian invasion, the Economy Ministry said on Saturday.
Bad weather in September, which slowed the pace of harvesting, also played a role, as did disruptions to supplies from the Zaporizhia nuclear power plant, the ministry said in a statement. Ukraine and Russia have accused each other of shelling the facility.
September exports rose 23% from August to their highest level since the war began in February, helped by an internationally brokered deal that allowed grain to be shipped from Black Sea ports.
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“The situation at the front improved in September, but the enemy continued to shell Ukrainian territory, putting pressure on business sentiment and logistics,” the ministry said.
“Further destruction of production facilities, infrastructure and residential buildings” and the uncertainty about the duration of the war inhibited development and delayed reconstruction, it said.
In July, Ukraine’s central bank said the economy could shrink by a third in 2022 and is expected to grow between 5% and 6% in 2023 and 2024.
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Reporting by David Ljunggren; Adaptation by Leslie Adler
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