Economy

The EBRD confirms its belief in moderate growth for Ukraine’s economy in 2023-2024.

Thursday, September 28, 2023
The EBRD confirms its belief in moderate growth for Ukraine’s economy in 2023-2024.

The European Bank for Reconstruction and Development has maintained its May growth forecast for Ukraine’s economy for 2023-2024. According to the bank, Ukraine’s GDP is expected to grow by 1% in 2023, reflecting a sharp decline in GDP in the first quarter compared to last year. However, this will likely be followed by a 3% increase in 2024.

At the same time, the EBRD changed the forecast for the region where it operates (Central Europe and Central Asia). GDP growth is expected to slow to 2.4% in 2023 from 3.3% in 2022. In 2024, as inflation continues to decline, growth is expected to increase to 3.2%. The May forecast for 2023 was revised upwards by 0.2 percentage point, and the forecast for the following year was revised downwards by 0.2 percentage point.

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