The Ukrainian economy is recovering faster than initially projected, according to the National Bank of Ukraine (NBU)

The pace of economic recovery in 2023 has exceeded initial forecasts, attributed to the high adaptability of Ukrainian businesses to the conditions of full-scale war.

Enterprises are rapidly and efficiently adapting production and logistics to challenging conditions. Favorable weather conditions have contributed to high crop yields, and although the disruption of the "grain corridor" may limit exports, the expansion of alternative routes, such as through Danube ports, will support it.

Macroeconomic stability remains in Ukraine. Annual inflation stands at 5.3%, and a stable currency market and reliable banking system provide a foundation for further economic recovery.

The NBU also noted that budget expenditures on the military, social support, and recovery projects contribute to economic activation.

According to NBU forecasts, real GDP is expected to grow by 3.6% in 2024. In 2025, assuming a reduction in security risks, even more accelerated GDP growth is anticipated, reaching up to 6%.