**Ukraine‘s Economy Grows 4.2% in First 10 Months of 2024**
Ukraine’s economy has grown by 4.2% compared to the same period last year, according to the country’s Economy Ministry. This growth is a result of increased activity in the construction, transportation, and manufacturing sectors.
**Construction Boosts Growth**
Recovery programs aimed at rebuilding damaged housing have helped boost the construction industry, which has contributed to Ukraine’s economic growth. The restored Black Sea trade corridor has also helped the transportation sector grow, while defense production has driven growth in the manufacturing sector.
**GDP Growth Slows Down**
While GDP growth has slowed down slightly compared to last year, it still grew by 1.3% between October 2023 and the same month this year. This slowdown is mainly due to a lower-than-usual output of agriculture this time of the year, as farmers had already finished harvesting some crops.
**Economy Stabilizes**
Ukraine’s economy stabilized faster than expected in 2023, thanks to successful government programs and international support. In 2023, GDP growth reached 5.3%, a significant improvement from last year when it fell by 29.1% due to Russia’s invasion.
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