NBU forecasts economic growth to continue this year, but at a slower pace than last year
Kyiv • UNN
Despite the war, Ukraine's real GDP will grow by 3.6% in 2024 due to high fiscal spending and expected international aid, according to the National Bank of Ukraine. However, the growth rate in 2024 will be lower than last year's due to a lower harvest and imbalances in the labor market caused by the war.
Despite the full-scale war in Ukraine, economic growth will continue. This year, real GDP will grow by 3.6%. UNN reports this with reference to the National Bank of Ukraine.
Details
"Despite the war, economic growth will continue. In 2024, real GDP will grow by 3.6%, primarily due to continued high budget expenditures against the background of expected sufficient international assistance," the report says.
However, it is noted that "the rate of economic growth will be lower than last year" due to the expected decrease in harvests and increased imbalances in the labor market in the context of the war.
"In 2025-2026, economic growth will accelerate to 4-6% per year due to reduced security risks, which is the main assumption of the NBU's forecast, improved consumer and investment sentiment, and the implementation of European integration reforms. In the post-war period, a loose fiscal policy will continue to support the economy, while the budget deficit will be significantly reduced due to the strengthening of the domestic resource base," the NBU informs.
Addendum Addendum
The National Bank of Ukraine kept the key policy rate at 15%.
