The United Nations assessed the state of the Ukrainian economy. The organization noted that it has demonstrated a certain resilience, but it is too early to talk about recovery. Ukrinform reports this.
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Ukrainian economy
In 2023, the Ukrainian the economy showed a slight recovery – GDP growth was 4.6% after a preliminary fall of 29.1%.
This is stated in the World Economic Situation and Prospects Report 2024, prepared by the UN Department of Economic and Social Affairs .
Last year, the Ukrainian economy demonstrated a certain resilience to the consequences of the current war, especially in terms of electricity supply.
Read on: Ukraine exported $35.9 billion last year. One from the lowest in a decade
“There is a slight improvement this year, but it is an improvement on paper because the economy has already contracted and it is very painful,” said the department’s director of economic analysis and policy, Shantan Mukherjee.
He added that the slight improvement does not mean economic recovery compared to the pre-war period.
World Economy
In general, the UN gave gloomy forecasts for the world economy. According to the organization's calculations, the growth rate will slow from 2.7% last year to 2.4% this year.
“A prolonged period of high interest rates, further escalation of conflicts, sluggish international trade and an increase in natural disasters, associated with climate change pose serious challenges to global economic growth,” say UN economists.
