Saturday, December 3, 2022

EBRD: Ukraine's economy to contract by almost a third in 2022

by The Kyiv Independent news deskSeptember 28, 2022 2:28 pm
Share
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."
The Kyiv Independent news desk
The Kyiv Independent news desk

We are here to make sure our readers get quick, essential updates about the events in Ukraine.

Independent journalism
for an independent Ukraine
Independence is an expensive currency. Both Ukraine and its journalists are paying a high price to preserve its independence. Support Ukraine's trusted journalism in its darkest hour.