The economy will contract by 35% this year, while inflation will skyrocket, the report says Consumer prices in Ukraine may surge by more than 20% this year, according to an IMF forecast released on Tuesday. The fund also expects a significant slowdown in the country’s economy. Ukraine’s GDP could shrink by up to 35% in 2022, according to IMF estimates. The expected 20.6% rise in consumer prices this year – a result of the ongoing military conflict – will come on the heels of a 9.4% inflation print in 2021. Ukraine’s GDP growth for 2021 came in at 3.4%. While reaffirming its April assessment of “a forecast contract
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