Ukraine: times of uncertainty

Published 04 April 2022

Ukraine’s cement industry has been seeing off anti-dumping imports from surrounding countries while encouraging a revival in domestic and export cement capacity. However, Russia’s military invasion in February 2022 has thrown the country into war with its neighbour. By Ukrcement Association, Ukraine, and ICR Research, UK.

While Ukraine’s cement industry successfully addressed challenges in 2021, it faces a challenge of an entirely different

magnitude in 2022 as Vladimir Putin orders Russia’s army to occupy Kyiv and other parts of Ukrainian territory

In the first year of the COVID-19 pandemic (2020) the Ukrainian economy contracted sharply, but grew steadily from the second quarter of 2021. However, growth was not as fast as Ukrainian and Western analysts had predicted. According to the baseline scenario, the Forecast of Economic and Social Development of Ukraine for 2022-24 put GDP growth at 3.8 per cent by 2021.

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