Real gross domestic product (GDP) of Ukraine in the second quarter of 2023 increased by 19.5% compared to the second quarter of 2022, after falling by 10.5% in the first quarter and 31.4% in the fourth quarter of last year.

According to the recent assessment of the State Statistics Service, released on Friday, compared with the previous quarter (taking into account seasonal factors), GDP in the second quarter of this year grew by 0.8%.

As reported, in general, over the past year, Ukraine's GDP, according to the State Statistics Service, fell by 29.1%.

At the end of July, the National Bank of Ukraine raised its GDP growth forecast for Ukraine in 2023 from 2% to 2.9%, but lowered it for 2024 from 4.3% to 3.5%. However, in the second quarter of this year, it estimated growth at 18.1%.

The Ministry of Economy forecasts Ukraine's GDP growth in 2023 to 4%, and next year – by 5%.