Ukraine’s economy will continue to slow down.

The growth of Ukraine’s economy slowed in the first quarter of the year and the main reason for that is the war, said Danylo Hetmantsev, chairman of the parliamentary finance committee. He recalled that in 2023, GDP growth was at 5.5%, in 2024 – 2.9%. That is, the decline in growth rate occurred last year.

“We have a further slowdown in recovery. In the first quarter, GDP grew by 0.5%. This is several times less than in 2024, when in the first quarter it was +6.8%. According to government estimates, the GDP growth forecast for 2025 is 2.7%, that is, the economy will continue to slow down,” Hetmantsev noted.

According to him, the unemployment rate, according to various estimates, is from 11% to 17%. And this is an undeniable consequence of the war and a barrier to economic recovery, because unemployment is also structural.

However, the National Bank predicts that Ukraine’s economy will grow by 3-4% in 2025-2027. In 2025, +3.1% is expected, in 2026 – +3.7%, in 2027 – +3.9%. The main drivers will be good harvests, a reduction in the electricity deficit, as well as an increase in defense orders.