Page 11 - Ukraine OUTLOOK 2023

In the middle of October, the National Bank of Ukraine (NBU) kept its
inflation forecast for 2022 at 30%, while the government improved it
from 30.1% to 29.3% at the end of October.

• Industrial production

The government has not reported industrial production numbers
since the war started. At least three quarters of Ukraine’s companies
have reduced their output or have ceased to trade completely.

In an exclusive interview Vadym Novynskyi, the owner of the Smart
Holding Group that includes Ukraine’s biggest metals company
Metinvest as well as a raft of other businesses, told bne IntelliNews that
his group is working at 20-30% of capacity and the only profits it is
making come from its assets outside Ukraine.

11 UKRAINE OUTLOOK 2022 www.intellinews.com