Economic growth in Ukraine has been slow due to the impact of Russian attacks on energy infrastructure, the impact of the war on the labor market and the level of expectations of business activity.
Ukrainian economic growth at the end of 2024 will be 3%, while inflation will accelerate to 9%. This forecast was announced by the International Monetary Fund (IMF), according to a press release from the NBU, published on Wednesday, September 11.
“According to the fund’s forecast, in the second half of 2024, economic growth in Ukraine will slow down due to the consequences of the Russian attack on the energy infrastructure, the impact of the war on the labor market and the level of expectations for business activity. The forecast for real GDP growth at the end of 2024 is at 3%, and inflation – up to 9%,” the report said.
The National Bank states that solving the problem of power shortages on the eve of winter is critically important and requires coordinated efforts, including the participation of international partners.
“Economic growth in 2025 is predicted by the fund at 2.5-3.5%. At the same time, the risks of the forecast are very high,” the publication said.
Let’s recall that in July the IMF expected Ukraine’s GDP growth to range from 2.5% to 3.5% with an inflation rate of 8%. At the same time, economic growth in Ukraine in 2025, based on the results of the June revision of the EFF program, is expected to be 5.5%.
Earlier, the Ministry of Economy reported that for January-July 2024, GDP growth is estimated at 4%.
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Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.