Despite the war, the economy is growing in three regions of Ukraine

The Center for Economic Recovery (CER) has highlighted that the eastern regions bore the brunt of the Russian incursion, witnessing a sharp 30-40% drop in gross product. Meanwhile, the central and western areas experienced a milder decline ranging from 10-30%.

Interestingly, despite the overall downtrend, regions like Ivano-Frankivsk, Kirovohrad, and Zakarpattia saw economic advancements. A significant influx of population to these areas is cited as the primary reason. The CER's assessment stems from observing the electricity consumption variances against 2021 metrics.

Following the war's onset, approximately 790 businesses relocated, with 623 having already recommenced operations at their new sites. In a regional breakdown, Lviv led the pack with 24% of the businesses relocating there. Zakarpattia followed at 14.5%, Chernivtsi at 9.8%, Ivano-Frankivsk at 8.3%, Khmelnytskyi at 7.3%, and Ternopil at 6.3%.

Of particular note, over 650 businesses, initially intending to move, opted to remain after the reclamation of their territories.

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Source: Ukraine Business News