Ukraine's GDP may fall by 50%: forecast from Shmygal

Prime Minister Denys Shmyhal said that, according to government estimates, Ukraine’s GDP could fall by 30-50% in 2022 alone.

According to the head of government, in the first six weeks of the war, the total damage caused to the Ukrainian economy exceeded $500 billion.

Schmigal wrote about this in a column for The Economist.

“According to government estimates, in the long term, this figure may increase to one trillion dollars, or five times more than last year’s GDP. Only in 2022, GDP may fall by 30-50%,” the prime minister said.

Recall, according to IMF forecasts as of April 19, as a result of the war, Ukraine’s GDP will fall by 35% . At the same time, the organization noted that it was impossible to obtain accurate measurements of the damage caused to the Ukrainian economy.

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