NBU increases its GDP in 2023 outlook to 4.9%

By Ben Aris in Berlin October 26, 2023

The National Bank of Ukraine (NBU) upgraded its economic outlook for the country’s growth for the third time this year on October 26, increasing its growth forecast to 4.9% for the year 2023 as well as predicting inflation will fall to 5.8%, Interfax Ukraine reports. (chart)

The GDP growth projection for next year has also been improved from 3.5% to 3.6%. However, higher inflation is expected in 2024 of 9.5% as opposed to the previous estimate of 8.5%.

In late July the NBU also raised its GDP growth forecast for Ukraine in 2023 from 2% to 2.9%, compared to the initial projection of 0.3% made in January. Simultaneously, the forecast for GDP growth in 2024 was lowered from 4.3% to 3.5%.

At the same time the NBU said inflation this year will come in at 10.6%, significantly less than the previous expectation of 14.8%.

Related Content

China Development Bank chief discusses joint projects in Hungary

Western Balkan countries’ growth paths diverge

Kazakhstan’s big league fintech Kaspi acquires 65% of Turkish Nasdaq peer Hepsiburada for $1.1bn

China Development Bank chief discusses joint projects in Hungary

Western Balkan countries’ growth paths diverge

Kazakhstan’s big league fintech Kaspi acquires 65% of Turkish Nasdaq peer Hepsiburada for $1.1bn

#Ukraine #inflation #macro #bneChart

Read in IntelliNews Pro

Get IntelliNews Pro

Related Content

China Development Bank chief discusses joint projects in Hungary

Western Balkan countries’ growth paths diverge

Kazakhstan’s big league fintech Kaspi acquires 65% of Turkish Nasdaq peer Hepsiburada for $1.1bn

China Development Bank chief discusses joint projects in Hungary

Western Balkan countries’ growth paths diverge

Kazakhstan’s big league fintech Kaspi acquires 65% of Turkish Nasdaq peer Hepsiburada for $1.1bn

Data

Philippines achieves record $3.5bn surplus as economy rebounds

The Philippines has reported its largest dollar surplus in nearly four years, highlighting a remarkable recovery in its balance of payments.

Central Asian states make progress in addressing hunger

Tajikistan remains a country of concern.

Declining rice prices signal stable inflation ahead for the Philippines

Metrobank Research has projected that declining rice prices will help maintain inflation at a stable 2% for the remainder of the year, enabling the Bangko Sentral ng Pilipinas to consider further interest rate cuts to support economic growth

Turkey sticks with 50% policy rate for seventh straight month

Uncertainty over the pace of improvement in inflation has increased in light of incoming data, says central bank.

Polish core inflation growth rate jumps to 4.3% y/y in September

The acceleration comes after two months of easing and is in line with the headline inflation rate.

Philippines achieves record $3.5bn surplus as economy rebounds

Central Asian states make progress in addressing hunger

Declining rice prices signal stable inflation ahead for the Philippines

Turkey sticks with 50% policy rate for seventh straight month

Polish core inflation growth rate jumps to 4.3% y/y in September

Dismiss

Chat with usLiveChat