Ukraine Economic Snapshot

Economic Forecast Summary (June 2023)

June 2023

Economic Outlook Note - Ukraine

After a sharp contraction in the first year of the war, economic activity is stabilising. The business sector is adapting to the war conditions, allowing for an expansion of production. Exports are benefitting from closer trade ties with the European Union and the “Black Sea Grain Initiative” that permits agricultural exports from otherwise blocked ports. Inflation is projected to moderate helped by lower food and energy prices.


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