The EBRD significantly worsened the forecast for Ukraine’s economy.
The European Bank for Reconstruction and Development significantly worsened their forecast for Ukraine’s GDP growth in 2023 from the 8% forecast in September 2022 to 1%. EBRD analysts noted that if hostilities in Ukraine remain limited to the current area in 2023, which produced less than 20% of their pre-war GDP, it is likely that real production will stabilize at around 70% of 2021 levels. At the same time, Ukraine’s economy will, as before, strongly depend on wartime considerations. “Unless