KYIV, Sept 18 Reuters Ukraine39;s gross domestic product grew by 3.9 yearonyear in the first eight months of the year, the economy ministry said on Wednesday.

The ministry also said in a statement that GDP had grown by 3.5 yearonyear in August.

Yulia Svyrydenko, first deputy prime minister and economy minister, said that better access to electricity over the last month had helped drive economic growth and boosted business and consumer confidence in the near term.

She said the transport and building sectors as well as retail had helped drive the economic expansion from January to August.

Ukraine39;s economy has been devastated by Russia39;s invasion, with GDP falling by about 29 in 2022.

Thanks to billions in foreign financial aid and Ukrainian businesses39; adaptability and resilience, the economy returned to growth in 2023, rising by 5.3.

But this year businesses are facing severe energy shortages and the government expects GDP growth to slow to 3.5 in 2024.

Russia has intensified its bombardment of Ukraine39;s power sector since March, knocking out about half of the available generation capacity and causing long blackouts across the country.

Businesses have to rely on more expensive imported electricity and invest heavily in developing new energygenerating capabilities.

Reporting by Anastasiia Malenko and Olena Harmash, Editing by Timothy Heritage

Source Reuters