Despite the war, Ukraine has achieved a record GDP per capita; the World Bank worsens its forecast for 2025.

Ukraine’s real GDP growth in 2024 was 3.6%.

“If we look at the level of GDP by the level of the available population, we have now reached a record GDP per capita,” said Deputy Minister of Economy of Ukraine Andriy Telyupa.

According to the Ministry of Economy forecast, 2025 GDP will grow by 2.7%, and inflation will slow to 9.5%. At the same time, the average salary in Ukraine in dollar terms is currently at a record high because of the country’s labor shortage. According to Telyupa, the average salary growth in 2024 was 13% (to ₴20,985 or $498.5), and in 2025 an increase of 8.1% (to ₴24,389 or $579.3) is expected.

Meanwhile, the World Bank predicts that Ukrainian GDP growth will slow to 2% in 2025 if active hostilities continue. The World Bank expects a sustained recovery of 7% in 2026, provided that active hostilities cease and with support from consumption and reconstruction spending.