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An armed man stands at a road block in downtown Kyiv, Ukraine, March 1, 2022. /CFP
Ukraine's economy shrank by an estimated 30 percent in the first three quarters of 2022 compared with the same period in 2021, the country's economy ministry said on Saturday.
Bad weather in September that slowed the pace of harvesting also played a role, as did interruptions in supply from the Zaporizhzhia nuclear power plant, the ministry said in a statement. Ukraine and Russia accuse each other of shelling the facility.
Exports in September jumped by 23 percent from August to their highest level since February, helped by an internationally brokered deal allowing the shipment of grain from Black Sea ports.
In July, Ukraine's central bank said the economy could shrink by a third in 2022 and was expected to grow between 5 percent and 6 percent in 2023 and 2024.
The International Monetary Fund announced Friday it will provide $1.3 billion in emergency aid to Ukraine through its new food crisis assistance program.
The package will help meet Ukraine's "urgent balance of payment needs... while playing a catalytic role for future financial support from Ukraine's creditors and donors," the IMF said in a statement
Ukraine's real GDP is projected to contract by 35 percent in 2022 relative to 2021 and financing needs remain very large, the statement said.
Last week, the World Bank granted Ukraine $530 million in additional aid to the country.
On the same day, the US Congress approved a new $12.3 billion aid package for Ukraine, including $3.7 billion in military equipment. The U.S. has given a total of $65 billion to the country since February.
(Sources: Reuters, AFP with edits)
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