GDP

Donald Trump will push allies to raise defense budgets — Rutte

NATO Secretary-General Mark Rutte expects incoming U.S. President Donald Trump to push European NATO members to raise defense spending beyond 2% of GDP, speaking ahead of the European Political Community summit in Budapest on Nov. 7.

8 November 2024, 03:31 AM

IMF drastically lowers Ukraine’s current account deficit forecast

The International Monetary Fund (IMF) expects Ukraine's current account deficit to increase from 5.4% of GDP in 2023 to 8.1% in 2024 and 14.3% in 2025, Interfax-Ukraine reported on Oct. 23.

23 October 2024, 10:15 AM

World Bank slashes Ukraine's 2025 growth forecast to 2% as war continues

The World Bank reaffirmed its 3.2% GDP growth forecast for Ukraine in 2024, but sharply downgraded it from 6.5% to 2% for next year in its Oct.17 Europe and Central Asia (ECA) Economic Update, the Interfax-Ukraine news agency reported.

18 October 2024, 10:04 AM

Russia’s 2025 military spending to reach $145 billion

The Kremlin is planning to increase its defense spending by 25% in 2025, reaching RUB 13.5 trillion ($145 billion), Reuters reported on Sept. 30, citing a draft of Russia’s federal budget for the next year.

30 September 2024, 09:52 PM

EBRD lowers Ukraine's 2025 GDP growth forecast

The European Bank for Reconstruction and Development (EBRD) has maintained its forecast for Ukraine's GDP growth at 3% in 2024 but downgraded its 2025 projection from 6% to 4.7%, its official statement wrote on Sept. 26.

26 September 2024, 01:30 PM

Estonian President calls for NATO members to boost defense spending to 3% of GDP

NATO members should consider raising defense spending to 3% of GDP, as Russia will continue to pose the most significant military threat to the Alliance for the foreseeable future, Estonian President Alar Karis said, Estonian public broadcaster ERR reported on July 7.

8 July 2024, 09:44 AM

Ukraine's National Bank warns of potential lower GDP growth for 2024

The National Bank of Ukraine (NBU) is bracing for a challenging economic outlook for 2024, with concerns that GDP growth might fall short of the previously forecasted 3%.

25 June 2024, 12:31 PM

Ukraine’s economic growth slows for third consecutive month

In May, Ukraine's GDP grew by 3.5% compared to 4.2% in April and 4.9% in March, with real GDP growth slowing for the third month in a row due to Russian attacks on Ukrainian power plants, reported Institute for Economic Research (IER) on its own analysis on June 17.

18 June 2024, 07:46 PM

20+ NATO countries to allocate at least 2% of GDP to defense in 2024 - Stoltenberg

Over 20 NATO members will meet the Alliance's target of allocating at least 2% of GDP to defense, NATO Secretary General Jens Stoltenberg said at the meeting with US President Joe Biden at the White House on June 17, Reuters reported.

18 June 2024, 09:50 AM

Several factors could push Ukraine's inflation rate to new heights - Ukrainian National Bank chair tells NV

The inflation rate is now set at 3.2% which is below the Ukrainian National Bank's (NBU) target of 5%, plus or minus 1%, NBU Chair Andriy Pyshnyi told Radio NV.

28 May 2024, 12:05 PM

Russian attacks on energy system slow Ukraine's economy

Ukraine’s GDP growth is slowing amid Russian attacks on its energy system, with a 4.1% growth rate in April compared to 4.8% in March, 5% in February, and 5.2% in January, according to the Institute for Economic Research and Policy Consulting’s (IER) economic monitoring.

21 May 2024, 03:18 PM

EBRD predicts Ukraine's GDP to grow by 3% in 2024, rise to 6% in 2025

Ukraine's GDP growth is expected to slow to 3% in 2024 from 5.3% in 2023 but will pick up to 6% in 2025, according to a report by the European Bank for Reconstruction and Development (EBRD) released on May 15.

15 May 2024, 02:19 PM

Ukraine secures significant EU and IMF support in 2024 borrowing - Finance Ministry

The Ukrainian Ministry of Finance announced that from January to April 2024, the actual state borrowings to the general fund of the state budget amounted to $14.35 billion, which is 96.5% of the planned amount for this period.

6 May 2024, 01:53 PM

What awaits Ukraine's GDP, the Ministry of Economy explained

Ukraine's economy is likely to grow by about 4.6% in 2024, although Russian attacks could worsen this figure, Economy Minister Yuliya Svyrydenko said during the Kyiv Investment Day Forum, Ukrainian state media outlet Ukrinform reported on May 2.

2 May 2024, 01:19 PM

Canada sets aside funding over five years for lethal and humanitarian aid to Ukraine

Canadian Finance Minister Chrystia Freeland introduced the 2024 federal budget, including funding for Ukraine, as the country plans to increase military spending to 1.76% of GDP by 2030, CP24 reported.

17 April 2024, 09:42 AM

IMF forecasts slowdown in Ukraine's GDP growth

The International Monetary Fund (IMF) has updated its projections for Ukraine's GDP growth in 2024 in its World Economic Outlook report published on April 16.

16 April 2024, 09:18 PM

Polish PM Tusk presses EU for greater defense commitment

Europe entered a "pre-war era" and experiencing "the most critical moment in history since World War II", Polish Prime Minister Donald Tusk said March 29.

29 March 2024, 05:26 PM

Ukraine’s financial landscape: Rising food prices amidst economic recovery

There’s a noticeable uptick in consumer prices in Ukraine, with food items seeing a 0.4% increase in February alone. The biggest price jumps were in vegetables, beef, oil, dairy, soft drinks, rice, bread, fish, and fruits, according to the latest State Statistics Service report.

12 March 2024, 04:51 PM

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