Ukraine

The Ukrainian economy will continue to grow, but at a slower pace: 5.3% in 2023, 3.6% in 2024 and 3.4% in 2025. Consumption and investment are driving growth, but are being held back by damage to energy infrastructure and military mobilisation. Inflation is rising and the current account deficit is widening. The fiscal situation remains tight, with high public debt and insufficient international aid. The energy sector is severely damaged, leading to supply shortages and possible blackouts.