NBU improves Ukraine's economic growth forecast for this year to 3.7%
Kyiv • UNN
NBU Governor Andriy Pyshnyi announced that Ukraine's economic recovery is continuing despite the war and damage to the power grid. The GDP growth forecast for 2024 has been improved to 3.7%, and is expected to accelerate to 4-5% in 2025-2026.
Ukraine's economic recovery will continue, although it will be limited due to the war and significant damage to the energy system - the economic growth forecast for this year has been improved to 3.7%, National Bank Governor Andriy Pyshnyi said during a briefing on Thursday, UNN reports.
Details
"Economic growth continued in the first half of the year, although it has slowed down in recent months as a result of Russia's large-scale attacks on energy infrastructure. However, businesses have partially adapted to the constant power outages. The economic recovery will continue, although it will be limited due to the impact of the war, in particular due to significant damage to the energy system," Pyshny said.
According to him, the stable operation of the sea corridor also affects economic activity.
Despite the electricity shortage and lower harvests compared to the previous year, the NBU has even slightly improved its economic growth forecast for this year to 3.7%. This is due to the better results of the first quarter and the expected expansion of budgetary incentives, as well as the development of distributed generation, including with the support of large-scale lending programs
Pyshnyi noted that the gradual normalization of economic conditions, the maintenance of a soft fiscal policy, along with the development of export routes and the revival of external demand will help accelerate real GDP growth to 4-5% in 2025-2026.
Recall
In June 2024, consumer inflation accelerated to 4.8% in annual terms from 3.3% in May.
