Despite the heavy losses in the war, the Ukrainian economy will recover faster than the Russian, analysts say.
Ukraine’s economy will reach pre -war levels in just five years, and Russia – in ten, according to S&P Global Market Intelligence.
According to the forecast, this year Ukraine’s GDP will decrease by 45.7%, but it will recover faster than Russia.
At the same time, Russia’s economy in 2022 will fall by 11.1%, and the lowest growth is expected only in 2024 – by 1.6%. In 2026, Russia’s GDP will grow by 1.9%.
In addition, analysts predict that global GDP growth will slow to 3.2% in 2022, compared to 5.8% in 2021. The forecast is down 0.1% due to weak US economic growth in early 2022.
Note that the IMF predicts Ukraine’s GDP decline this year by 35%. And the Cabinet expects that the collapse could be up to 50%.
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Source: korrespondent
