IMF estimates Ukraine's economy to contract by 3 pct this year

Kiev [Ukraine], April 12:The International Monetary Fund (IMF) projected that Ukraine's economy will fall by 3 percent this year compared with a 30.3 percent contraction in 2022, the Ukrainian government-run Ukrinform news agency reported Tuesday, citing the fund's newly released report.
Inflation in Ukraine will slightly go up, with consumer prices rising to 21.1 percent this year compared with 20.2 percent in 2022, the IMF said in its World Economic Outlook (WEO) report.
At the same time, the unemployment rate will shrink to 20.9 percent in 2023 from 24.5 percent in 2022, the report said.
Earlier this month, the World Bank estimated that Ukraine's gross domestic product will increase by 0.5 percent this year.
According to the preliminary estimation of the Ukrainian government, the country's economy shrank by 29.2 percent in 2022.
Source: Xinhua