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Ukraine's economy could contract by 40 per cent in 2022

A building in Ukraine destroyed during the Ukraine-Russia war. [Courtesy of Al-Jazeera]

Ukraine's economy shrank 16 per cent year-on-year in the first quarter of this year, and could contract 40 per cent in 2022 as a result of Russia's invasion, the economy ministry said in a statement on Saturday, citing preliminary estimates.

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Ukraine Russia