Stable sources of income will be international donations and migrant workers' money.
Ukraine's economy will gradually recover, however real GDP in 2022 may shrink by at least a third , the National Bank of Ukraine said on Thursday.
In particular, Ukraine's GDP is expected to shrink in all respects. Thus, private consumption will decline due to the forced departure of many citizens from the country, rising unemployment, declining incomes and savings on secondary expenditures, reduced investment in business.
The NBU also predicts a reduction in both imports and exports due to the closure of enterprises, reduction of sown areas and the impossibility of effective agricultural work due to hostilities, blockade of seaports, problems with fuel and fertilizer supply.
stocks of products that companies will try to export later. After a significant reduction in the first month of the war, exports and imports will gradually resume, “the National Bank said.
In turn, the financial support of Ukraine's international partners will be a significant source of foreign exchange earnings in Ukraine. Other relatively stable sources will be remittances from migrant workers and incomes from the IT industry.
At the moment, businesses are gradually resuming their operations: April – fell to 23%.
According to a recent World Bank forecast, Ukraine's output and real GDP are likely to decline by 45.1% in 2022 due to the effects of the Russian invasion. strong> and active hostilities in a large part of the country.
At the beginning of the year NBU forecasts GDP growth of 3.4% for the country in 2022.
See special topic: Ireland supports embargo on Russian oil Ireland will also provide 33 million euros in military assistance to the Armed Forces of Ukraine. The United States has commented on the situation with the cruiser “Moscow” There is no confirmation of the involvement of the Ukrainian side. Ukraine needs more weapons to unblock Mariupol – Kuleba The Foreign Minister noted that Ukraine is working with partners to get it. Ukrainian Marines shot down the enemy drone “Orlan-10” – General Staff of the Armed Forces The occupiers tried to take the UAV, but failed. The Armed Forces have confirmed that “Moscow” is sinking They warned that there is still a threat of rocket fire from the Crimea.
