- In particular, the EBRD’s forecast that Ukraine’s gross domestic product (GDP) will contract by 30% this year has not changed.
- Economic activity has been severely disrupted, even in regions without combat activity, due to supply bottlenecks, logistical challenges, financial difficulties and a lack of adequate labor.
- As a result, Ukraine’s GDP plunged by 15.1% year on year in the first quarter of 2022 and by 37.2% in the second quarter, when the most severe and widespread fighting took place.
EBRD Downgrades Forecast of Ukraine’s Economy for 2023
