The fund does not expect a sharp recovery of Ukraine’s economy.

The International Monetary Fund expects that after the reduction of the Ukrainian economy by a third in 2022, it will stabilize next year, albeit without a sharp recovery.

This was stated by the permanent representative of the IMF in Ukraine Vahram Stepanyan during the meeting of the general meeting of the European Business Association, noting that there will be no sharp recovery.

“For this year, our latest assumptions about the economic situation are as follows: the real economy will shrink by a third. And we believe that the next few months will be very difficult for the Ukrainian economy, when winter begins and when the destruction of the energy infrastructure continues, unfortunately,” – he said.

“By 2023, we expect the economy to stabilize. We do not expect a sharp recovery, but we expect stabilization,” the IMF representative added.

The war in Ukraine and IMF assistance:

After the start of a full-scale Russian invasion, the IMF provided Ukraine with $1.4 billion in emergency financing to help meet urgent spending needs and mitigate the effects of the war.

Earlier, the National Bank stated that Ukraine expects to start a program with the IMF in November and receive about 20 billion dollars under it.

At the beginning of October 2022, the Executive Board of the International Monetary Fund supported the allocation of about 1.3 billion dollars to Ukraine.

On October 13, 2022, emergency financing from the IMF in the amount of $1.3 billion arrived in Ukraine

On October 22, 2022, the IMF recommended that Ukraine not reduce taxes.