Table of Contents
The British Defense Ministry has released an update on Ukraine's economy, highlighting its resilience despite two years of Russia's invasion. The report predicts that Ukraine is likely to see real economic growth of around 3% in 2024, continuing the trend of wartime recovery after the economy contracted by around 29% in 2022. The International Monetary Fund (IMF) data shows Ukraine's economy grew by 5% in 2023. The National Bank of Ukraine (NBU) has also improved the annual inflation forecast to 8.2% for 2024, down from 8.6% previously forecasted. The NBU has progressively lowered its base interest rate to 13.5% at the end of April 2024, down from 14.5% set in March 2024. This indicates continued improvements in the economic conditions of Ukraine.
