KYIV (Reuters) – Ukraine’s economy ministry has lowered its GDP growth forecast for 2023 to 1%, the Interfax Ukraine news agency quoted a deputy minister as saying on Monday.
The ministry had previously projected that the economy, which has been hit by Russia’s invasion and shrank by about a third last year, would grow 3.2% this year.
Speaking at an event in Kyiv, deputy economy minister Oleksiy Sobolev said the new figure was based on the assessment that fighting would continue beyond the middle of this year.
He also projected that inflation would fall to 24% from 26.6% last year, Interfax reported.
The economy ministry was not immediately available to respond to Reuters questions about the Interfax report.
(Reporting by Dan Peleschuk and Olena Harmash, Editing by Timothy Heritage)