In 2024, the Ukrainian economy will increase by 5%, inflation will decrease to 10.8%, the government predicts.
The Cabinet of Ministers predicts that the economic growth of Ukraine will accelerate to 5% in 2024, and inflation will slow to 10.8%. This was announced by the first deputy head of the Verkhovna Rada Committee on Tax and Customs Policy, Yaroslav Zheleznyak, who published the draft budget.
According to the government’s forecast, in 2024 nominal GDP will be 7.825 trillion Hryvnia.
The explanatory note states that, according to the State Statistics Service, the decline in real GDP at the end of 2022 reached 29.1%, which is the largest decline since Ukraine’s independence, but better than expected at the very beginning of the Russian military invasion. .
Overall, by the end of 2023, GDP growth is expected to be 2.8% compared to 2022, the inflation rate is 14.7% (calculated from December to December of the previous year).
“In 2024, the largest contribution to growth will continue to be made by household consumer demand due to its largest share in GDP – as economic activity in Ukraine continues, wages rise and consumer sentiment improves, there will be an increase in consumer activity of the population,” – said the document.
According to government forecasts, next year price dynamics in the consumer market will continue the downward trend and will be formed under the influence of a number of multidirectional factors. By the end of 2024, consumer inflation is expected to continue to slow down to 10.8% in December compared to December last year.
We remind you that on September 15, the Cabinet of Ministers approved the draft state budget for 2024 with own revenues of the general fund of the budget of 1 trillion 560 billion Hryvnias and expenses of the general fund of 3 trillion 108 billion hryvnias. The draft state budget does not include expenses for the 2024 election.
Source: korrespondent
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