EBRD has worsened the forecast of economic growth of Ukraine to 1%

Sofiia Telishevska

Compared to September 2022, the European Bank for Reconstruction and Development (EBRD) has worsened the growth forecast for Ukraineʼs economy from 8% to 1%.

According to their calculations, Ukraineʼs economy will continue to suffer from the war.

"Unless there are significant strategic changes on the battlefield, Ukraineʼs GDP growth [even] in 2024 will most likely be sluggish, but at least positive," the bankʼs regional report says.

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.

Inflation in Ukraine will remain much higher than the target level of 5%.

Georgia and Armenia will remain the leaders of economic growth in the region of Eastern Europe and the Caucasus, but its pace will slow down by two or three times compared to last year.