Analysts predict how Ukraine’s accession to the EU would affect the growth of the Ukrainian economy.

According to the NBU, the Ukrainian economy will increase by 7%, and the GDP per person will be $15,500 within a decade after the country’s accession to the EU with the rapid implementation of all necessary reforms. Under a partial implementation of reforms, the economy can grow by about 4% for ten years, and GDP per person in 2033 will exceed $10,000.

When calculating these indicators, the NBU considered the experience of countries that have traveled the path of European integration. In the Central and Eastern European countries that joined the EU in 2004, labor productivity and GDP per person in 2003 were, on average, almost 10% higher than if they had not had the opportunity to join.

The prospect of EU membership and the corresponding conditions will stimulate the country’s economic growth even before the official accession, and the integration process will work to stimulate foreign trade and attract investment, strengthening the country’s institutional capacity.