Economy Ukraine in 2023 will grow by 4.1 percent, mainly due to a good harvest and assistance from friendly countries. This is stated in the autumn forecast European Commissionwhere Ukraine was included for the first time, reports TASS.
European Commissioner for Economic Affairs Paolo Gentiloni during a press conference explained that in connection with the granting of Ukraine candidate status for accession to EU The country was included in the economic forecast for the first time.
In 2022, according to the EC, the Ukrainian economy shrank by 29 percent, which was a consequence of fighting, the need to relocate a significant number of citizens, including their departure from the country as refugees, and the loss of part of the territory.
At the end of October, the National Bank of Ukraine (NBU) reduced the base interest rate by four percentage points at once, to 16 percent, due to the improving situation in the economy. At the same time, the regulator revised the forecast for GDP growth from 2.9 to 4.9 percent.
One of the factors that influenced the NBU’s decision was the calm market reaction to the abandonment of the fixed hryvnia exchange rate. The stability of the national currency made it possible to begin easing monetary policy at a faster pace.
this week International Monetary Fund (IMF) and Ukraine reached agreements on the next tranche in the amount of $900 million. According to the organization, Kyiv has met the requirements necessary to receive support.https://musicnewsfirst.com/