Yulia Svyrydenko, the first deputy prime minister and economy minister, told reporters that Russia's attacks on Ukraine's critical infrastructure were behind the accelerated economic slowdown last month.
The Ukrainian government estimated that in January-September 2022 Ukraine's GDP dropped 30 percent, Svyrydenko said.
If the attacks, which caused massive power outages across Ukraine, continue, the country's economy may see a bigger decline by the end of the year, she added.
Earlier in the day, the State Statistics Service said that inflation in Ukraine skyrocketed to 26.6 percent last month on an annual basis.
On a monthly basis, consumer prices grew 2.5 percent in October.
According to the National Bank of Ukraine, inflation is expected to reach 30 percent at the end of 2022 compared with 10 percent in the previous year.
Ukraine's economy is projected to drop 31.5 percent this year, according to the bank's forecast.
Latest comments