The International Monetary Fund (IMF) predicts that Ukraine’s gross domestic product (GDP) will grow by 3.2% in 2024 and by up to 6.5% in 2025 even as the country continues to grapple with the full-scale invasion.
Around the same time last year, the IMF initially estimated a 3% decline in Ukraine’s GDP in 2023 before publishing a forecast of an improved growth of 2% by the end of the year.
The 2024 World Economic Outlook report also includes data on changes in the country’s consumer prices, which are expected to increase 6.4% in 2024 and 7.6% in 2025. Ukraine’s unemployment is projected to decrease slightly between 2024 and 2025.
Russia’s invasion caused a major hit to Ukraine’s economy, which suffered a whopping 29.1% fall in GDP in 2022. The economy stabilized faster than expected in 2023 due to several successful government programs as well as international support.