Ukraine's GDP will reach record level this year - Zelensky

Ukraine's GDP will reach record level this year - Zelensky

Ukrinform
Ukraine's gross domestic product (GDP) in 2021 will exceed $190 billion, which in U.S. dollars is the highest figure since the country gained independence, President Volodymyr Zelensky has said.

He said this in his annual state-of-the-nation address in the Verkhovna Rada on Wednesday, December 1, according to an Ukrinform correspondent.

"In 2021, the size of Ukraine's economy will reach a record level for the first time since independence, exceeding $190 billion. This is more than in pre-crisis years 2008 and 2013," Zelensky said.

He noted that for the first time since 2013, Ukraine's public debt will be less than 50% of GDP. At the same time, in recent years the public debt of most countries has grown rapidly and, on average, exceeds 90% in the world.

"Our gold and foreign exchange reserves have grown and today reach $30 billion, which is the highest figure since 2013," Zelensky said.

Ukraine's gross domestic product in the second quarter of 2021 grew by 5.7% compared to the second quarter of 2020. Ukraine's nominal GDP in 2020 amounted to UAH 4.19 trillion, or 4% less than in 2019. 

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