At the same time, due to military risks, growth is expected to slow to 3-4% in 2024

The IMFhas improved its economic forecast for Ukraine: GDP may grow up to 4.5% thisyear

At thesame time, due to military risks, growth is expected to slow to 3-4% in 2024

TheInternational Monetary Fund has improved its economic forecast for Ukraine.They said they expect the country's GDP to grow to 4.5% by the end of thisyear. This was reported by the National Bank following the results of the IMFmission to Ukraine.

It is notedthat while working on the second review of the Extended Fund Facility (EFF)program, IMF experts praised the extraordinary resilience of the Ukrainianeconomy.

"Thelatest economic data indicate a stronger-than-expected economic recovery in2023 and a significant decline in inflation with significant internationalreserves and a stable foreign exchange market," the statement said.

With thisin mind, IMF experts expect a stronger recovery of the Ukrainian economy.

"Theyhave raised their estimate of real GDP growth in 2023 to 4.5%, although whenthe first revision of the EFF program was approved, this figure was estimatedin the range of 1% to 3%," the National Bank said.

And whatabout next year?

At the sametime, growth is expected to slow to 3-4% in 2024, as the war continues and therisks of a deteriorating forecast remain significant, the financial institutionadded.

Earlier, wereported that Ukraine and the IMF agreed at the expert level on the secondreview of the program under the EFF Extended Fund Facility. It was noted thatthis agreement paves the way for Ukraine to receive a new IMF tranche of about$900 million.