Due to the war, the real gross domestic product of Ukraine may decrease by 35-40% by the end of the year.
First Deputy Prime Minister and Minister of Economy Yuliya Svyridenko stated this on the air of the national telethon.
"According to our calculations, according to the macro forecasts made by the Ministry of Economy, the contraction of the economy by the end of the year may be at the level of 35-40%," said the Minister of Economy.
Svyridenko also noted that it is very important for the economy today to help enterprises that are working, have a staff and sales markets, so that they continue to work actively.
According to her, in addition to the micro-grant program, the government is developing changes to the "5-7-9" program so that enterprises in the front-line regions, whose assets were destroyed, would have the opportunity to take a loan and recover.
At the end of July, the National Bank issued a forecast according to which inflation will exceed 30% by the end of the year. The National Bank hopes that inflation will slow down next year thanks to the improvement of trade logistics and the gradual growth of harvests. An additional impact will be the decrease in global inflation and the tight monetary policy of the NBU. At the same time, the slowdown in inflation will restrain the high cost of gas and oil and the need to gradually reduce tariffs for the population to the market level. As a result, consumer inflation will decrease to about 20% in 2023 and will fall to single-digit levels only at the end of 2024.
- In May, the National Bank announced Ukraineʼs losses during the war — more than $92 billion, that is, about half of last yearʼs gross domestic product.