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The NBU predicts the growth of Ukraine’s GDP in 2024 at 3.7% (April’s forecast was 3%). Economic growth in the year’s first half continued, although it has slowed down in recent months due to Russia’s large-scale attacks on the energy sector. However, Ukrainian businesses have adapted to the frequent power outages in part. The NBU also worsened its forecast for the growth of consumer prices in 2024 to 8.5% (in April – 8.2%). Inflation will be 6.6% in 2025 and

The demographic situation in Ukraine, particularly the availability of labor resources, is one of the most critical factors that is currently affecting the economy today and will affect the dynamics of its growth in the future. Due to the war, the departure of Ukrainians abroad, and internal migration, there is a shortage of personnel and structural unemployment in the state. As the Ministry of Economy noted, in 2021 the official labor market counted 11.5 million workers. In 2023, this figure

In June, Ukraine’s GDP grew by 1.1% compared to June last year. However, Ukraine’s economic growth continues to slow down – in May, GDP grew by 3.7%, in April – by 4.3%. The Ministry of Economy notes that the main factor in the slowdown in the economy’s growth rate was power outages, but the economic recovery continues. For the first half of the year, GDP growth is estimated at 4.1% compared to the same period last year. Among the positive

The Ministry of Economy updated its statistical data and revised their assumptions and forecast for Ukraine’s economic and social development in 2024. Accordingly, by the end of 2024, nominal GDP is expected to exceed ₴7.484T (in the previous forecast, it was ₴7.643T). Real GDP growth is forecast at 3.5% (4.6% was previously expected). Consumer prices will increase by 5.4% on average for the year and by 7.9% from December to December (compared to the average annual inflation of 8.5% and

The country’s income is estimated by the World Bank at $5,070 per capita. The World Bank generally divides the world’s economies into four income groups: low, lower than average, higher than average, and high. The classification is updated every year on July 1, considering the gross national income (GNI) per capita for the previous calendar year. The increase in Ukraine’s rating resulted from a resumption of economic growth in 2023 (real GDP increased by 5.3% after a drop of 28.8%

According to the results from the first quarter of 2024, Ukraine’s real GDP increased by 6.5% compared to the same period last year, according to the State Statistical Service. A year earlier, according to the results from the first quarter of 2023, a decrease of 10.3% in annual terms was observed for real GDP. At the same time, it is noted that in January-March, the real GDP also increased compared to the previous quarter by 1.2% (considering the seasonal factor).

The Ukrainian economy will grow by 3-4% by the end of 2024, which is less than 2023, according to the macro forecast from the Center for Economic Strategy (CES). As experts explain, the pessimism regarding GDP growth forecasts is primarily caused by the losses suffered by the Ukrainian energy infrastructure due to Russian attacks. Inflation is expected at 7.5% according to the average forecast and over 9% according to the highest. At the same time, it is lower than the

According to the Ministry of Economy, in May 2024 Ukraine’s GDP increased by 3.7%, and in January-May 2024, by 4.3%. GDP growth continued thanks to high export rates supported by the stable operation of the Ukrainian maritime corridor and high demand for construction services, which is driven by infrastructure restoration. Positive trends were observed in the transport industry, construction, agriculture, and internal trade. Industrial enterprises continued to restore their economic activity in May. This results from both export-oriented production and

This forecast was shared by Marlene Madsen, a top European Commission official, during URC2024 in Berlin. According to her, the selection and schedule of crucial reforms are very important. Emphasis should be placed on areas that can help Ukraine quickly integrate into the EU market. In addition, the EC wants this plan to give Ukrainian authorities an understanding of how to work with donors at the domestic level. Madsen also noted that reports on reforms contained in the Ukraine Plan

Ukraine needs from $10 to $30B in annual investments for the next 10 years, Prime Minister Denys Shmyhal said. “Our budget deficit is about 20% of GDP. It is important that the support is predictable and stable,” he said. At the same time, the government of Ukraine continues to take measures to increase its budget revenues. “Last year, GDP recovered by 5.3%. In the first four months of this year, the growth was 4.4%. There is an increase in exports

Investment group Dragon Capital has improved its inflation forecast in 2024 from 8% to 7.6%. At the same time, the previous estimate of a 4% increase in GDP in 2024 has been maintained thanks to the recovery in maritime exports and the development of the military-industrial complex, which will outweigh the negative impact of increased mobilization and electricity shortages. The forecast for the average annual exchange rate of the hryvnia shifted from ₴37.3 per $1 to ₴40 per $1, and

The National Bank worsened its 2024 growth forecast for Ukraine’s economy from 3.6% to 3% due to the severe consequences from Russia’s missile attacks on energy infrastructure. The central bank’s estimates coincide with the EBRD’s forecast, which in May also pointed to a slowdown in Ukrainian economic growth to 3% this year for the same reason. At the same time, the NBU notes that, despite ongoing shelling, Ukraine’s economy continues to recover, and real GDP grew in the first quarter.

In April 2024, Ukraine’s GDP growth compared to April last year was about 4.3%. For January-April, the economic department noted that the growth is estimated at the level of 4.4% compared to the corresponding period last year. Economy Minister Yuliya Svyrydenko noted that the economy generally continues to adapt and acquire the characteristics of the wartime economy. At the same time, high-security risks, damage to energy facilities, and a significant shortage of qualified personnel continued to exert negative pressure on

The growth rate of real GDP in Ukraine has slowed down somewhat. The key problem is reduced access to a constant electricity supply and sufficient amounts of electricity. According to the IER, GDP in April grew by 4.1% year-on-year compared to 4.8% in March. “The limitations in the electricity supply will lead to a further decrease in the GDP growth rate. Among the positive news is that exports and imports continued growing thanks to better logistics both through the Ukrainian

According to an EBRD forecast, Ukraine’s economy will grow by 3% in 2024 and by 6% in 2025. This pace is lower than the 5.3% rise in 2023 following a sharp drop in 2022 caused by the Russian invasion. The EBRD says that despite the increase in Ukraine’s GDP in 2023, helped by a record harvest, damage to the electricity infrastructure due to recent shelling is one of the factors likely to limit further growth in 2024. New challenges have

“The National Bank of Ukraine predicts that economic growth will slow to 3% in 2024 due to the loss of energy infrastructure and an expected electricity deficit of about 5%. In 2025-2026, GDP growth will accelerate to 5.3% and 4.5 %, respectively,” the message reads. At the same time, the budget deficit forecast remained unchanged – at 20.7% of GDP in 2024. International aid will remain a critical tool to cover this shortfall, which will amount to $37.9B this year.

Despite the war, the Ukrainian economy will grow by approximately 4.6% in 2024, although Russian missile attacks may worsen this indicator, said Minister of Economy Yulia Svyrydenko at the Kyiv Investment Forum. According to her, the development of the domestic military industry will help ensure such growth. The localization of half of the budget that is allocated for purchasing weapons and creating joint productions with foreign companies will increase GDP by at least 3.6%. “Last year’s indicators showed that the

The Ministry of Economy estimated GDP growth in March to be at the level of 4.6%, while in January, the growth was at 3.5%, and in February, 3.9%. The GDP growth trend is supported by stable seaport operations, which have stimulated activity in railway transport, metallurgy, and mining of metal ores. Several other factors have also contributed to these positive indicators, including increased production capacities in the mining industry, renewed production of mineral fertilizers, increased demand for construction services, improvement

The Ministry of Economy notes that, despite all the difficulties caused by the war, the positive dynamics of key macroeconomic indicators are evidence of the economy’s adaptation to wartime conditions and its gradual readjustment. The ministry’s forecast is based on two scenarios: in the first the war ends in 2024 and in the second the war continues longer. According to experts, in the case of a quick end to the war (in 2024), real GDP growth in 2025 will be

said Executive Director of the Center for Economic Recovery, Kyrylo Kryvolap. According to him, by 2030, two million people will have left the labor market due to aging and migration processes. According to the expert, two ways exist to solve the labor shortage problem – to somehow acquire these millions of workers or increase labor productivity. Therefore, the state should encourage Ukrainians to return from abroad and change its migration policy. About 30% of businesses say that the lack of