Ukraine’s Economy to Shrink by a Fifth This Year, EBRD Says
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Ukraine’s economy will shrink by a fifth this year before bouncing back in 2023, according to the European Bank for Reconstruction and Development, under a scenario where a cease-fire is brokered in a couple of months.
The forecast is subject to major downside risks “should hostilities escalate or should exports of gas or other commodities from Russia become restricted,” the EBRD said in its biannual Regional Economic Update published on Thursday.