Wednesday, November 20
The EU predicts Ukraine’s GDP will grow this year.
Thursday, July 20, 2023
The Spring 2023 Economic Forecast states that Ukraine’s economy will stabilize this year, and GDP may grow by 0.6%. And after a year, growth may reach 4%. This growth is forecast even though during the first year of the war, Ukraine’s economy dropped by 29.1%.
According to the analysis, exports of goods and services, after falling by 42.4% last year, should grow by 1.5% this year and by 5.3% in 2024. After a reduction of 18.5%, imports should increase by 3-6.2% in the next two years. Ukraine’s trade balance deficit (for goods only) should be 11.9-11.8% of GDP after totaling 12.7% last year.
Note that according to the results from the first quarter of 2023, Ukraine’s real GDP decreased by 10.5% compared to the same period in 2022. At the same time, compared to the last quarter of the previous year, an increase of 2.4% was recorded.
