The UN estimates Ukraine’s economy decreased by more than 35%.
According to a UN report, Ukraine’s economy shrank by more than 35% and had a monthly budget deficit of $5B as a result of the full-scale Russian invasion. The organization paid particular attention to the massive destruction to the transportation infrastructure, disruption of production and trade activities, and significant workforce losses due to migration and military conscription. Experts also note the significant economic impact from Russian attacks on energy infrastructure facilities, port blockades, and damage to metallurgical plants. UN economists believe that the promised €18B in macro-financial assistance from the EU for 2023 may not be enough. In addition, they did not dare to make an economic forecast for Ukraine for 2023 and 2024 due to significant situational uncertainty. As for the global economy, experts predict a slowdown in growth from 3% in 2022 to 1.9% in 2023, which will be one of the lowest rates in recent decades.