The International Monetary Fund (IMF) projected that Ukraine’s economy will fall by 3 per cent this year compared with a 30.3 per cent contraction in 2022, the Ukrainian government-run Ukrinform news agency reported Tuesday, citing the fund’s newly released report.
Inflation in Ukraine will slightly go up, with consumer prices rising to 21.1 per cent this year compared with 20.2 per cent in 2022, the IMF said in its World Economic Outlook (WEO) report.
At the same time, the unemployment rate will shrink to 20.9 per cent in 2023 from 24.5 per cent in 2022, the report said.
Earlier this month, the World Bank estimated that Ukraine’s gross domestic product will increase by 0.5 per cent this year.
According to the preliminary estimation of the Ukrainian government, the country’s economy shrank by 29.2 per cent in 2022.
Meanwhile, the International Monetary Fund (IMF) projected on Tuesday that the growth of advanced economies will decline by half in 2023 to 1.3 per cent, before rising to 1.4 per cent in 2024.
“About 90 per cent of advanced economies are projected to see a decline in growth in 2023,” the IMF said in the newly released World Economic Outlook report.
“With the sharp slowdown, advanced economies are expected to see higher unemployment, a rise of 0.5 percentage point on average from 2022 to 2024,” it said.
