Moscow, March 7 – Ukraine’s Economy Ministry lowered its forecast for GDP growth this year from 3.2% to 1%, according to Strana.ua, citing a statement by Ukraine’s Deputy Economy Minister Oleksiy Sobolev.
It is noted that the forecast for GDP growth has worsened, among other things, due to the assumption that hostilities will not end in the middle of the year, Sobolev’s statement said.
“It seems that we have passed the peak of inflation – it is gradually starting to decline. We expect it to decrease from 26.6% in 2022 to 24%,” the deputy minister added.
Earlier, the World Bank expected Ukraine’s GDP growth to resume in 2023 at 3.3%, provided there is no further military escalation.
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