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EBRD: Ukraine’s economy to shrink by a fifth this year.

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According to the European Bank for Reconstruction and Development, the economy may bounce back in 2023, growing 23%, under a scenario where a ceasefire is brokered within several months. “Currently, the war is happening on territories that produce 60% of Ukrainian GDP,” the EBRD said in the report.

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The Kyiv Independent news desk

We are the news team of the Kyiv Independent. We are here to make sure our readers get quick, essential updates about the events in Ukraine. Feel free to contact us via email with feedback and news alerts.

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 (Updated:  )

In Kharkiv, an overnight Russian drone attack hit an apartment block, injuring two men and a woman, Kharkiv Oblast Governor Oleh Synehubov reported on May 2.

 (Updated:  )

Russian forces launched overnight drone attacks targeting critical and energy infrastructure across several Ukrainian regions early on May 2, with strikes reported in Mykolaiv, Kryvyi Rih, and Odesa Oblasts, according to regional authorities and local reports.

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