Ukraine's economy will shrink by 20% this year.
European The Bank for Reconstruction and Development (EBRD) has said that Russia's war against Ukraine will plunge both countries into the sharpest economic recession in 25 years. However, Ukraine's economy will recover sharply in 2023 if the end of the war happens in the near future. 20% this year, as hostilities are taking place in an area that accounts for 60% of the country's GDP that existed before the war.
However, GDP could recover by 23% in 2023 if the war ends soon.
«Ukraine, which was originally a poor country, will become even poorer. We understand that between a third and a half of firms have stopped working, and electricity consumption is 60% of the pre-war level», — Yavorchik said.