Ukraine’s GDP grew by 19.5% YoY in Q2 2023, below consensus but exceeding the central bank’s forecast of 18.1%. Although detailed breakdowns were not released, the base effect notably impacted this growth. The economy showed greater resilience to military conflicts this year, and the bank consistently raised its growth projection, recently hitting +2.9% annual GDP in July (from +2.0%). Separately, the EC is expected to advocate Ukraine’s EU accession process this month. The EC may insist on progress in areas like corruption.