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Ukraine’s economy could contract 40% in 2022, ministry says -Breaking

by Mike Robinson

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© Reuters. An area man walks previous a broken armoured private provider, as Russia?s assault on Ukraine continues, within the city of Makariv, in Kyiv area, Ukraine April 1, 2022. Image taken April 1, 2022. REUTERS/Serhii Mykhalchuk

(Reuters) – Ukraine’s economic system shrank 16% year-on-year within the first quarter of this 12 months and will contract 40% in 2022 on account of Russia’s invasion, the economic system ministry mentioned in a press release on Saturday, citing preliminary estimates.

“Areas during which distant work is inconceivable have suffered probably the most,” it mentioned.

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