Ukraine's GDP grew by 4.5% in Jan-Sept y/y, economy ministry says
Adds Svyrydenko in paragraph 3,4, more details from paragraph 5
KYIV, Oct 18 (Reuters) -Ukraine's gross domestic product grew by 4.5% year-on-year from January to September driven by the agricultural sector, transport and construction, the economy ministry said on Friday.
It said in a statement that GDP grew by 3.8% in September year-on-year.
"Despite the challenges of the war, Ukraine's economy continues to recover," said First Deputy Prime Minister Yulia Svyrydenko. "In September, agriculture showed the greatest growth due to the early harvest of late crops. We also saw the increases in transport and construction."
Svyrydenko said that near-term business sentiment inthe retail trade, industrial production, and construction sectors continuedto improve, adding that it was mainly due toa better situation in the energy sector.
Thanks to mild weather and high electricity imports, Ukraine has so far managed to meet energy demand from homes and businesses, despite Russian bombardments of Ukraine'spower infrastructure in March that knocked out half of the country's power generation capabilities, leading to regular blackouts.
The economy ministry said that the major challenge for businesses going forward was a severe shortage of staff.
Almost 32months of war against Russia have drained the Ukrainian labour market, as tens of thousands of Ukrainian men were mobilized intothe army and millions of people fled fighting in Ukraine and remained in Europe.
The government expects GDP growth to slow to 3.5% this year after rising by 5.3% in 2023. In 2022, Ukraine's economy shrank by nearly a third.
Reporting by Olena Harmash; Editing by Sharon Singleton
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