Ukraineʼs GDP fell by 31% in the IV quarter of 2022. The fall was exacerbated by attacks on the energy industry

The real GDP of Ukraine in the IV quarter of 2022 fell by 31.4% compared to the same period last year. A greater drop was recorded only in the II quarter of 2022.

The State Statistics Service writes about this.

At the same time, a 30.8% drop in GDP was recorded in the third quarter. It was in the fourth quarter of 2022 that the greatest consequences of Russian attacks on the energy infrastructure fell — the lights regularly went out all over Ukraine.

If compared with the third quarter of 2022, the fall in GDP in the fourth quarter of 2022 is estimated at 4.7%.

• Compared to September 2022, the European Bank for Reconstruction and Development has worsened the growth forecast for Ukraineʼs economy from 8% to 1%. According to EBRD estimates, in 2023 the real volume of production in Ukraine will stabilize at the level of 70% of the pre-war level.
• The International Monetary Fund predicts thatUkraineʼs GDP will grow by 1% in 2023. At the same time, inflation will be about 25%.