IMF forecasts Ukraine's GDP to grow 3.2% in 2024, 6.5% in 2025

MOSCOW. April 16 (Interfax) - The International Monetary Fund (IMF) forecasts Ukraine's GDP to grow 3.2% in 2024, Ukrainian media reported, citing the IMF's World Economic Outlook (WEO) published on Tuesday.

The IMF had estimated Ukraine's GDP to grow from 3% to 4% in 2024 in the third review of the Extended Fund Facility (EFF) Arrangement program in March.

The IMF in its current WEO has retained the forecast for the country's GDP to grow 6.5% in 2025. The State Statistics Service of Ukraine said that the country's GDP grew 5.3% in 2023.

The IMF also expects average annual inflation to decelerate to 6.4% in 2024 from 12.9% in 2023, and to accelerate slightly to 7.6% in 2025.

The IMF has also retained the forecast for Ukraine's current account deficit for the balance of payments at 5.7% of GDP for this and at 8.2% of GDP next year, unchanged from the fund's third review of the EFF program. The figure was 5.5% of GDP last year.