Ukraine's GDP up by more than 3% in 2021 - PM Shmyhal

Thanks to the concerted efforts of the authorities and international support, Ukraine's economy began to recover after the coronacrisis, as evidenced by more than 3% GDP growth in 2021 and a record GDP worth more than $195 billion.

This was emphasized by Prime Minister Denys Shmyhal during the annual meeting of member companies of the American Chamber of Commerce in Ukraine, Ukrinform reports with reference to the Government portal.

"We see an absolute overfulfillment of our budget for the last year, and the burden on business in percentage terms is falling year by year. We have a 6% increase in real incomes," Shmyhal said, adding that the average salary in Ukraine in December 2021 reached almost $600.

The prime minister also noted the breakthrough of the IT sector.

"There’s been an increase to $5 billion in 2020 and $7 billion in 2021. Today, the Ukrainian IT service is becoming one of the main players on the IT map of Europe," the head of government said.

According to Prime Minister Shmyhal, the construction industry grew by almost 6%. He stressed that the state will actively develop this area through affordable mortgage lending programs and the implementation of a large number of infrastructure projects.

The prime minister also noted the record high export worth $68 billion (an increase of almost 40%).

Shmyhal added that the government would continue its work to improve the investment climate to make doing business in Ukraine easier and more convenient. The government head believes that the support of Ukraine's international partners is extremely important, being unprecedented at the moment.

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