The NBU also predicts GDP growth for the following years as well.
Chairman of the National Bank Andriy Pishnyi said that after a significant decline in the economy last year, the department expects the situation to improve somewhat in 2023. This is reported by Ukrinform.
“The National Bank expects a slight increase in real GDP in 2023 by 0.3%,” the head of the NBU noted.
According to him, the deterioration of the forecast, compared with October estimates, due primarily to the consequences of the energy terror, as well as a revision of the main assumption regarding the duration of security risks.
Pyshnyi emphasized that the reduction of security risks together with the resumption of full operation of ports, increase of harvests, gradual restoration of production capacities, adjustment of logistics and revival of domestic demand, including due to the return of forced migrants, will contribute to the growth of the economy in 2024-2025.
“Thanks to all these factors, Ukraine's real GDP will grow by 4.1% in 2024, and economic growth will accelerate to 6.4% in 2025,” he said
The head of the National Bank added that as a result of energy terror from Russia, the decline of Ukraine's GDP deepened in the IV quarter of 2022 (up to 35% in annual terms).
Read also: What awaits Europe in 2023: ECB warned of a fall GDP, rising inflation and the weakening of the euro
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Recall that earlier the National Bank of Ukraine reported that in 2022 the money supply in Ukraine increased by 21.0% or by 435 billion hryvnias . However, it should be noted that the National Bank plans to abandon financing the state budget deficit as early as 2023.
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