Ukraine’s economic growth outlook pegged at 2 percent by IMF

People Of Ukraine
People Of Ukraine

The International Monetary Fund (IMF) upgraded its 2023 economic outlook for Ukraine to 2 percent growth from a contraction of 3 percent estimated in April, the Ukrinform news agency reported Tuesday, citing the fund’s newly released forecast.

This year, the consumer prices in Ukraine will go up 17.7 percent compared with 20.2 percent in 2022, the IMF said in its World Economic Outlook.

The IMF projected the unemployment rate in Ukraine will drop to 19.4 percent in 2023 compared with 24.5 percent in the previous year.

The Ukrainian economy, which shrank 29.1 percent in 2022 due to the Ukraine crisis, is projected to grow 3.2 percent in 2024, according to the economic outlook.

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