Following Russia’s attack on Ukraine, countless companies in the country have been forced to suspend or significantly reduce production.
The International Monetary Fund predicts that Ukraine’s gross domestic product will fall by 35% this year, but the Minister of Public Finance Serhiy Marchenko in mid-May predicted that this fall could reach as much as 45% -50%.
Meanwhile, annual inflation in Ukraine rose to 18% in May, compared with 16.4% in April.
Ukraine’s central bank has warned that inflation could reach 20% by the end of the year.
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