Ukraine's economy is growing despite the war: NBU raises forecast to 4% for 2024
Kyiv • UNN
The NBU forecasts that Ukraine's real GDP will grow by 4% in 2024. In 2025-2026, the economy is expected to grow further by 4.3-4.6%, driven by international financing and external demand.
Ukraine's real GDP continued to grow in the second and third quarters of 2024 despite military challenges. The NBU predicts economic growth of 4% in 2024 and 4.3-4.6% in 2025-2026, UNN reports.
Details
"Economic growth continues, although it remains limited due to the impact of the war," the National Bank stated.
According to the NBU, waves of Russian attacks on energy infrastructure, increased migration, and a lack of labor slowed the economic recovery, but real GDP continued to grow in both the second and third quarters of 2024.
"Moreover, a lower-than-expected electricity shortage and slightly higher harvests of early grain crops allowed the NBU to raise its forecast for real GDP growth in 2024 to 4%," the regulator said.
According to the NBU's forecast, significant budgetary incentives, backed by substantial international financing, rising household incomes, as well as increased output in crop production and robust external demand will contribute to further growth of the Ukrainian economy - by 4.3-4.6% in 2025-2026.
