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

Former Pussy Riot member escapes Russia after 3 years of forced work for FSB

Musk 'may change his mind' on using Starlink over Russian territory, Zelensky says

‘Everything except nukes’: As the world watches Wildberries, Russia unleashes war on Ukraine’s economy

Russia reacts to UK sharing Storm Shadow blueprints with Ukraine

Ukraine hits Ozon logistics centers, rocket fuel plant, MiG-29 fighter jet in Russia, military says
The Lukoil-owned NORSI plant in Nizhny Novogorod Oblast is the fourth-largest oil refinery in Russia.
"The recent attempted attack on our facility in Slovakia is further proof that Ukrainian defense manufacturers have become a real thorn in their side, and that we are on the right path," a company's representative told the Kyiv Independent.
In a document prepared for the UN General Assembly in September, the Hungarian government condemns Russian military aggression and fully supports Ukraine's territorial integrity.
President Volodymyr Zelensky cited Elon Musk's "contributions to the protection of human life and freedom, and the development of relations between the peoples of Ukraine and the U.S."
Russian forces launched a double-tap attack on rescue workers dealing with the aftermath of a Russian attack on Kramatorsk, Donetsk Oblast, on Aug. 25.
Tambov Oblast Governor Yevgeny Pervyshov said the Wildberries hub was hit in "a massive drone attack," causing a fire that has spread over 100,000 meters.
The figure includes 1,450 casualties that Russian forces suffered over the past day.
Kremlin spokesperson Dmitry Peskov told the Washington Post that Ratcliffe's visit involved "contacts between security services."
The visit marks the first face-to-face talks between Moscow and the Vatican since Russia launched its all-out war against Ukraine in 2022.
"They don't believe in the strength of (Russian President Vladimir) Putin's air defenses," the source said.
An oil refinery in Kazakhstan is set to process Russian crude and send 70% of its diesel and gasoline output back to Russia, Kazakh Energy Minister Yerlan Akkenzhenov said Aug. 25 amid shortages caused by Ukrainian attacks.
The High Anti-Corruption Court on Aug. 25 placed Iryna Mudra, a former deputy head of the President's Office, in custody for two months in a graft case and set bail at Hr 20 million ($448,000).
"Сhildren cannot be used as instruments of war or occupation," First Lady of Lithuania, Diana Nausediene, said.
"Our contribution plays a major role in getting funds to Ukraine, but it is not sufficient on its own," a European Commission spokesperson said, adding that other partners must "follow suit."
Editors' Picks

'He's sort of like Hitler' — Trump's ex-Ukraine envoy Kellogg warns Putin won't stop at Donbas

‘Everything except nukes’: As the world watches Wildberries, Russia unleashes war on Ukraine’s economy

Drama, determination, and risk: Remembering how Ukraine's independence unfolded


