Despite war, Ukrainian economy grew by more than 5% in 2023

Ukraine's economy has seen moderate growth again in 2023 following a slump in the previous year when Russia launched its full-scale invasion of the neighbouring country.

Economic growth stood at 5.3% in price-adjusted terms for 2023, the statistics office in Kiev announced on Thursday citing preliminary figures.

At current prices, economic output totalled just over $166 billion.

Following the Russian invasion in February 2022, the Ukrainian economy collapsed by around 29%. Even before the war, Ukraine was the poorest country in Europe in terms of per capita income, according to statistics from the International Monetary Fund.