Home News Ukraine’s GDP could fall by 30% -50% in 2022, according to Ukrainian...

Ukraine’s GDP could fall by 30% -50% in 2022, according to Ukrainian Finance Minister

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The forecast is close to the World Bank’s recent estimates of Ukraine’s economy.

According to revised estimates published a week ago by the World Bank, Russia’s military invasion will cause a 45% contraction in Ukraine’s economy in 2022, and emerging economies in Europe and Central Asia will also be hit hard.

The World Bank has said that the extent of the contraction in the Ukrainian economy will depend on the duration and intensity of the war.

According to the bank, “Ukraine needs massive financial support immediately because it is struggling to keep its economy running, and the government is trying to support Ukrainian citizens who are suffering and facing an extreme situation.”

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