Page 27 - UKRRptDec22

Ukraine's GDP will grow by 1% next year. The International Monetary Fund has updated its macro forecast for Ukraine based on the fund's virtual mission results. “Economic activity is expected to stabilize in 2023, with economic growth of 1% under the baseline scenario after the economy contracted by 33% this year," IMF mission chief Gavin Gray said. In addition, the Fund predicts that the annual inflation rate in Ukraine will remain at an average of 25% next year. Gray added that with the ongoing war, Ukraine will continue to require significant external funding to resource key state functions while maintaining adequate economic stability. Based on the results of the IMF’s virtual mission, an agreement on a monitoring program was reached. However, this program has yet to be approved by the IMF board.
4.0 Real Economy 4.1 Industrial production
UKrstat has not released industrial production numbers since the war broke out.
4.2 Inflation
The annual inflation rate in Ukraine soared for the ninth straight month to 26.6% in October of 2022 from 24.6% in the previous month. It was the highest rate since February of 2016, amid a further acceleration in prices of goods and services, primarily transportation (41.1% vs 40.7% in September)
27 UKRAINE Country Report December 2022 www.intellinews.com