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Internal refugees boost three Ukrainian regions’ economy in 2022 amid nationwide decline

As Russia’s invasion caused a widespread decline in Ukraine’s economy, three regions stood out with unexpected economic growth, primarily credited to the accommodation of internal refugees, a report shows.
Internal refugees boost three Ukrainian regions’ economy in 2022 amid nationwide decline

In 2022, almost all Ukrainian regions saw an economic decline due to Russia’s full-scale invasion. Meanwhile, the regional GDP increased only in three regions despite the war, according to a report by the expert platform Center for Economic Recovery on the impact of the war on the Ukrainian economy, Liga says.

“Ukraine’s GDP dropped by about 29% in 2023 due to Russia’s full-scale invasion, exceeding previous more pessimistic expectations,” the report reads.

The Center’s experts estimated that the eastern regions suffered the most from the Russian invasion (a 30-40% drop in gross domestic product), while the central and western regions suffered less (a 10-30% drop). The estimate is based on changes in electricity consumption compared to 2021.

Three regions – Ivano-Frankivsk, Kirovohrad, and Zakarpattia oblasts – showed economic growth contrary to the general trend. The report says this is due to a significant population influx to these regions.

According to official reports, about 790 businesses have changed their registration since the start of the war, of which 623 have already resumed operations at the new location. Regionally, the largest number of companies moved to Lviv Oblast (24%), Zakarpattia Oblast (14.5%), Chernivtsi Oblast (9.8%), Ivano-Frankivsk Oblast (8.3%), Khmelnytskyi Oblast (7.3%), and Ternopil Oblast (6.3%).

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