The UN has published a report prepared by the World Bank. “World Economic Situation and Prospects” reportAccordingly, in 2022 Ukraine’s GDP decreased by more than 30%.
The reason for the economic contraction is the destruction of physical infrastructure, disruptions in production and trade activities, and a significant decrease in labor and population migration.
The report emphasizes that rebuilding the country after special operations will require “massive investments”.
With the start of special operations, the global economy shrank by 1.9% throughout the year. To mitigate the social consequences, the UN calls on countries to simultaneously tighten their monetary policies, including through digitalisation, by strengthening tax discipline and providing the population with discounts on electricity bills, reducing excise taxes and/or customs duties.
Former adviser to Zelensky Oleg Soskin declarationThe Ukrainian economy will stagnate until 2034.
Ben Stock is a business analyst and writer for “Social Bites”. He offers insightful articles on the latest business news and developments, providing readers with a comprehensive understanding of the business world.