The Ukrainian economy is recovering faster than previously predicted. All institutions are now revising their GDP growth estimates upwards. This was stated by the First Deputy Prime Minister of Ukraine - Minister of Economy of Ukraine Yulia Svyridenko during a speech at the Yalta European Strategy YES 2023 forum, the press service of the Ministry of Economy reported.
"We, expect that GDP growth in 2023 will be closer to 4%. This is a more optimistic forecast than that of the NBU, which expects growth at the level of 2.9% of GDP," said Yu. Svyridenko.
According to her, in the medium term, we can expect economic growth of 3.5% in 2024 and 6.8% in 2025. But even despite such estimates, the economy has greater potential for recovery.
It is noted that the forecasts for the main sectors of the economy have also improved. The harvest of grains and oilseeds will be larger than last year and at least 50 mln tonnes of grains and oilseeds are expected to be exported, as well as at least 10 mln tonnes of oil and meal.
The Ministry of Economy is confident that Ukraine will be able to improve export logistics - mainly through the Danube Delta, Romania and through a safe corridor to the ports of Great Odessa.
"Four ships have already used this corridor, and we expect two more ships to arrive," the head of the Ministry of Economy noted.
Before the big export season, which will start in November with the export of corn, Ukraine plans to introduce two insurance schemes – one with the support of the Ukrainian Government and one with the support of the EBRD.