Ukrainian Economy Ministry prepares 4 macro-scenarios for 2023, ranging from 0.4% GDP decline to 15.5% growth

MOSCOW. Aug 26 (Interfax) - The Ukrainian Economy Ministry is expecting a GDP decline of at least 30-35% in 2022, and has four macro-scenarios for next year, ranging from further decline of 0.4% to 15.5% economic growth, Ukrainian First Deputy Prime Minister, Economy Minister Yulia Svyrydenko said.

"We have prepared four possible scenarios depending on the probable turn of events together with the Finance Ministry, the National Bank of Ukraine and the expert community," the Ukrainian media quoted Svyrydenko as saying in her column in the Focus media outlet.

There is also a vision of Ukraine's development in the upcoming decade, which is presented in the Ukraine Recovery Plan, Svyrydenko said. Ukraine is planning to enlarge its GDP to $500 billion with the assistance of partners, compared to the record $200-billion in 2021, she said.

The Recovery Plan consists of five important measures, namely, the reconstruction of plants, the fastest possible economic recovery to the pre-crisis level, the attraction of capital, the construction of logistic routes to supply products to Europe within 72 hours, and the provision of access to raw materials for exporting processed goods and encouraging processing enterprises, she said.

It is impossible to maintain the current situation and to implement the recovery plan without solid support and macro-financial assistance from foreign partners, Svyrydenko said.