Ukraine’s gross domestic product in 2022 fell by 28.8%, in actual prices amounting to UAH 5 trillion 239 billion. This is evidenced by data from the State Statistics Service.
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Previously, the State Statistics Service estimated the fall in Ukraine’s GDP at the end of 2022 at 29.1%, nominal GDP at UAH 5 trillion 191 billion.
According to According to updated data, in comparison with the base year 2016, the fall in GDP was 22.5%.
Recall
According to the State Statistics Service, in the first quarter of 2023, GDP fell by 10.5% compared to the same period of the previous year. In the second quarter, GDP increased by 19.5%; in the third, GDP growth slowed to 9.3% compared to the same quarter last year.
NBU forecast
The National Bank improved its forecast for Ukraine’s GDP growth in 2023 from 2.9 to 4.9%. The reasons for this decision: higher adaptability of business and the population to military conditions, improved assessment of harvests, expansion of alternative export routes, more significant volumes of budget expenditures.
In 2024, the NBU predicts 3.6% GDP growth, despite maintaining security risks. The regulator also significantly improved the inflation forecast for 2023 – from 10.6% to 5.8%.