Ukraine Economic Outlook
May 10, 2022
The Russian invasion has now dragged on past the 10-week mark, and, despite ongoing peace talks, there is no end in sight. Although funding from the U.S., the EU and the international community has continued to pour in, the economic losses stemming from the destruction of infrastructure, the loss of territory and the loss of human lives have continued to mount. The number of Ukrainians that have fled their homes has now reached an estimated 12 million people. Currently, the southern port city Kherson is now fully under Russian control, as is much of Mariupol despite ongoing resistance at the Azovstal steel plant. Despite partially succeeding in cutting off Ukraine’s access to the sea, Russia’s strategic shift towards the Donbas region has seen a loss of momentum amid fierce resistance from Ukrainian armed forces and widespread floundering by the Russian army.Ukraine Economic Growth
The precise economic fallout of the war remains unseen given the fast-moving nature of the conflict and its unpredictability. Nevertheless, our panelists have penciled in massive downgrades to GDP growth—with some projecting an up to 55% contraction. The key variable going forward will be the extent of Russia’s plans in the ever-evolving military landscape. FocusEconomics panelists project GDP to contract 36.5% in 2022, which is down 7.0 percentage points from last month’s forecast. For 2023, the panel sees GDP expanding 12.9%.Ukraine Economy Data
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Ukraine Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 19.00 | 0.0 % | Jul 27 |
| Exchange Rate | 23.70 | 0.30 % | Jan 01 |
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Ukraine Economic News
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Ukraine: Inflation hits highest level since August 2019 in March
April 13, 2022
Consumer prices rose 4.50% in March over the previous month, accelerating from February's 1.59% increase.
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Ukraine: Ukraine’s economy on an uncertain path following Russian invasion
April 6, 2022
The Russian invasion of Ukraine is now well into its sixth week and the military landscape has evolved significantly.
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Ukraine: GDP growth records best result in over 11 years in Q4 2021 prior to the Russian invasion
March 11, 2022
A second national accounts release confirmed that GDP growth improved to 6.6% year on year in the fourth quarter, from 2.9% in the third quarter.
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Ukraine: Inflation rises in February
March 11, 2022
Consumer prices increased 0.64% in February over the previous month, a bigger increase than the stable reading logged in January.
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Ukraine: Ukraine’s economy on an uncertain path following Russian invasion
March 8, 2022
The Russian invasion of Ukraine is now well into its sixth week and the military landscape has evolved significantly.
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