• 26/05/2024 08:59

The EBRD forecasts increased growth of the Ukrainian economy in 2024

The European Bank for Reconstruction and Development (EBRD) predicts that the Ukrainian economy will grow e at 3.0 % in 2024 roci. This indicator is lower than 5.3% of GDP growth in 2023.

RBC-Ukraine reports this on the EBRD forecast.

As stated in the publication, in Ukraine, economic growth in 2023 was ensured not only by a record harvest, but by increased funds for defense, which supported domestic flow, as well as net exports prodovzhuvav iznizhuvatis. Other supporting factors included the Ukrainian government's success in dealing with renewed electricity supply following Russian attacks on the country's infrastructure last winter, as well as the resilience and adaptability of the Ukrainian I carry it.

According to EBRD data, current external financing in 2023 has become another stabilizing factor, helping to reduce inflation to the target level of approximately 5%. Zokrem, the Expanded Financing Program (EFF) of the International Monetary Fund was implemented in the amount of 15.6 billion dollars. Ukraine received $42.5 billion from US donors and international organizations, including $12 billion in grants. This raised official foreign exchange reserves to a record level, with some major powers increasing to as much as 90% of GDP.

Forecast for 2024

“However, in 2024, the prospect of a protracted war on the rise and renewal of doubts about the current financial situation, which has been preserved for several months, has given rise to new problems. Internal shortages, labor shortages and insufficient investments also include many factors. “How, obviously, will limit the prospects for growth,” says the publication.

A positive point is that a new Ukrainian export corridor was opened through the Black Sea along the coastline, which ended the wartime insignificance of the Black Sea for the export of agricultural products. Other goods, such as metal and ore, are assigned to the EBRD.

After the great start, this corridor began to grow, stimulating not only the rural dominion, but also the metallurgy and mining industry, which in the last two years fell among the most affected people .

“Updating exports and increasing Internal military production is likely to ensure economic growth by 3% in 2024, which will accelerate to 6% in 2025. power infrastructure,” according to the forecast.

Forecasts for GDP

It is predicted, according to the State Statistics Service, that Ukraine’s GDP will fall by 28.8% in 2022 and increase by 5.3% in 2023.

Increased growth is predicted for 2023. Zokrem, the National Bank of Ukraine has lowered its forecast for GDP growth from 3.6% to 3.0% due to Russia's attack on the energy infrastructure.

The IMF has updated its forecast for economic growth in Ukraine. It turns out that Ukraine's GDP will grow by 3.2% in 2024.

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