After falling by about a third this year, next year authorities expect the economy to grow by 15% at the same time.
Next year, Ukraine’s economy is expected to grow by 15.5%, Ukrainian Economy Minister Yulia Sviridenko said in an interview with Reuters.
He said current forecasts for GDP in 2023 range from a further contraction of 0.4% to growth of 15.5% after a likely 30-35% fall this year.
“It is very difficult to make new forecasts because of the uncertainty. It depends entirely on the military scenario,” Sviridenko added.
The minister also spoke a little about the new IMF program, which the authorities are looking forward to. The program should be “relatively large” and quickly agreed to help free up funds from other lenders and provide reassurance to investors, he said.
Sviridenko called on donor countries and institutions to fulfill their aid promises. Ukraine received $12.7 billion in international budget support after the Russian invasion, he said, and expects another $14 billion in pledged aid to come before the end of the year.
“It is very important for us to continue to receive this financial assistance, and assistance in general, from our partners. We are fighting for values that are important for Europe and the United States,” said the minister.
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%.
The National Bank believes that Ukraine is waiting for the biggest drop in GDP in history. According to the base scenario, this year the economy will fall by 33.4%.
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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.