Ukraine’s GDP fell by 29.1% in 2022

Ukraine ‘s real GDP declined by 29.1% in 2022, according to the State Statistics Service’s operational estimate. Ukraine’s economy grew by 3.4% in 2021. This was reported by Forbes.

The decline in the first quarter reached 14.9%, in the second – 36.9%, in the third – 30.6%, and in the fourth – 31.4%. In 2022, it reached 5.19 trillion.

Despite the difficult situation, some analysts expect Ukraine’s GDP to grow in 2023. The most optimistic growth forecast of 5.5% is expected by Sense Bank, while the worst indicator of gross domestic product decline is 4.6% from Oxford Economics. The Ministry of Economy of Ukraine has revised its macroeconomic forecast for 2023, downgrading the gross domestic product growth forecast from 3.2% to 1%.

Author: Daria Skotchenko

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