Ukraine's economic recovery to begin in Q2 this year – Shmyhal

Ukraine's economic recovery to begin in Q2 this year – Shmyhal

Prime Minister Denys Shmyhal assures that the sustainable recovery of Ukraine's economy will begin in the second quarter of this year.

He said this at a government meeting on May 26, an Ukrinform correspondent reports.

"The export of Ukrainian products in the first four months of this year increased by almost 20%, that is, by USD 3 billion more than last year ... Increased positive dynamics of economic recovery is observed in the financial activities of medium and large companies. In the first quarter of this year, we record that the financial results of such companies are one of the best over the past five years; and in the second quarter of this year we will enter a stable trend of economic recovery," Shmyhal said.

He added that recently eight new markets have opened for Ukrainian exporters, in particular, countries in Africa and South America. The PM also stressed that support for exporters is yielding results and will be strengthened, in particular through the Export Credit Agency.

As reported, in January-March 2021 compared to the same period in 2020, imports of goods increased by 11.0%, to USD 15.02 billion, while exports grew by 12.0%, to USD 13.71 billion.


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