The government has worsened its forecast for Ukraine’s 2023 GDP growth.

The Ministry of Economy of Ukraine has worsened its forecast for the growth of the country’s GDP in 2023 from 3.2% to 1%, said Deputy Head of the Ministry of Economy Oleksiy Sobolev. He explained that the forecast’s deterioration occurred in consideration of the assumption that the war against Ukraine will not end in the middle of 2023 but will last almost the entire year. As for inflation, the ministry believes that it will decrease from 26.6% to 24% this year. At the same time, the consensus forecast from companies and non-governmental institutions, presented by the Center for Economic Strategy, states that Ukraine’s GDP will decrease by 0.1% in 2023 due to inflation of 16.9%.