The European Bank for Reconstruction and Development forecasted a 30% shrinkage in Ukraine's GDP in 2022, in its latest Regional Economic Prospects report. The forecast remains unchanged from the previous report in May.
With high levels of uncertainty about the progress of the war and Ukraine's economic recovery, the EBRD report updates its expectations for a GDP rebound in 2023 from 25% to 8%.
"Economic activity has been severely disrupted, even in regions without combat activity," the report stated, "due to supply bottlenecks, logistical challenges, financial difficulties, and a lack of adequate labor."
Most Popular
Europe’s plan to fund Ukraine is being blocked by one company — Euroclear
Hunted relentlessly by Russian drones, 2 Ukrainian soldiers survive 165 days on the front line
Russia’s air defenses have a Flamingo missile-sized weak spot, report suggests
Ukrainian drones destroy 70% of fuel tanks at Russia's Temryuk Seaport, General Staff says
US sides with Russia on UN resolution on Chornobyl disaster
News Feed Show More
Saturday, December 13
Russian missile and drone strikes on energy infrastructure in Dnipropetrovsk, Chernihiv, Odesa, and Mykolaiv oblasts have disrupted electricity supplies, Ukraine's Energy Ministry said.
The number includes 1,300 casualties that Russian forces suffered over the past day.
The reported meeting involving Zelensky follows news that Kyiv and its European partners handed Washington their revisions to the U.S.-proposed peace framework, with territorial concessions dominating tensions between the parties.
Saturday, December 13
Explosions were reported in Russia's Saratov Oblast overnight on Dec. 13 as officials warned of a possible drone attack, with unverified local reports indicating the Saratov oil refinery had been targeted.
(Updated: )Politics
Ukraine's Security Service (SBU) carried out a second drone strike this week on Russia's Vladimir Filanovsky oil production platform in the Caspian Sea, also hitting the nearby Korchagin platform, an SBU source said Dec. 12.
(Updated: )War
(Updated: )
Russia’s Slavneft-YANOS oil refinery in Yaroslavl, one of the country’s five largest, is reportedly on fire after being struck in an overnight drone attack on Dec. 12, officials and local Telegram channels said.
"You don't need to hide; I will come after each of you personally," said Prosecutor General Ruslan Kravchenko, responding to a wave of anonymous posts alleging he had submitted a letter of resignation.
The Russian Central Bank said in a press release that it had sued Euroclear, the Belgian financial institution holding the vast majority of Europe's frozen assets, in a Moscow court on Dec. 12.
Ukraine’s Security Service said Friday that it detained three men suspected of planting two homemade bombs that killed a National Guard serviceman and wounded four other people in Kyiv a day earlier.
