According to the results of the year, the economy is expected to contract by about a third, which is more than during other crises.
The collapse of the Ukrainian economy in 2022 will be the largest in the country’s history. This is stated in the inflation report of the National Bank.
“The fighting has led to a deep recession in the economy. After the shock of the first months of the war, it is gradually adapting to the new conditions, but the fall in GDP in 2022 will be the deepest in the history of Ukraine,” the report said.
According to the base scenario, the economy will fall by 33.4% this year. This is greater than during the crisis of 2014-2015.
The NBU believes that the transition to economic growth is possible no earlier than the middle of 2023. H
A significant intensification of economic recovery is possible with the decrease of military threats. But, due to the significant destruction of industry and loss of population, the recovery of the Ukrainian economy in 2023-2024 will be slow (about 5-6% per year).
For faster recovery, international aid is needed, in particular, an analogue of the Marshall Plan.
It will be remembered that in the first quarter of 2022, the GDP of Ukraine decreased by 16% compared to the same period last year. And in the second quarter – by 40%.
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Source: korrespondent
I am Dylan Hudson, a dedicated and experienced journalist in the news industry. I have been working for Buna Times, as an author since 2018. My expertise lies in covering sports sections of the website and providing readers with reliable information on current sporting events.