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    HomeBusinessUkraine's economy could contract 40% in 2022, ministry says

    Ukraine’s economy could contract 40% in 2022, ministry says

    (Reuters) - Ukraine's economy shrank 16{5ad0cd663e4180c32b8049fbde12201ec3855e324a84c95f0595f875746ae8b3} year-on-year in the first quarter of this year and could contract 40{5ad0cd663e4180c32b8049fbde12201ec3855e324a84c95f0595f875746ae8b3} in 2022 as a result of Russia's invasion, the economy ministry said in a statement on Saturday, citing preliminary estimates.

    "Areas in which remote work is impossible have suffered the most," it said.

    (Reporting by Natalia Zinets; Writing by Alessandra Prentice; Editing by Alison Williams)

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