Dragon Capital raises Ukraine's GDP growth forecast in 2023

The Dragon Capital investment company has upgraded its Ukraine’s economic growth forecast in 2023 by 0.7 percentage points to 5.2% yoy.

This is said in a report released by the company’s press service, Ukrinform reports.

"Ukraine's economy continues to recover faster than expected, driven by increased exports through seaports, stable electricity supply, and better-than-expected harvests," the report says.

Dragon Capital estimates that Ukraine’s real GDP growth in November-December will slow from +10.5% in October, estimated by the Ministry of Economy, mainly due to fluctuations in agricultural production. However, according to the company’s estimates, in the fourth quarter of 2023, Ukraine’s real GDP is expected to grow by 5% yoy, compared to 3% previously forecast.

The company maintains its economic growth forecast for 2024, expecting Ukraine’s real GDP to grow by 4% yoy.