KYIV, May 5 – Ukraine’s economic contraction in the first quarter slowed down to 13.5% compared to the same period last year from 31.4% and 30.6%, respectively, in the fourth and third quarters of 2022, according to an estimate was published by the National Bank of Ukraine (NBU) in the inflation report on its website on Friday.

According to it, from the second quarter of 2023, the economy will begin to recover and immediately by 15.9%, given the low base of the second quarter of last year, when the decline was 36.9%.