KYIV, Jan 26 – The National Bank of Ukraine (NBU) has downgraded its forecast for the growth of the country's gross domestic product (GDP) in 2023 to 0.3% from 4% in the previous forecast, which is largely due to the extension of the base scenario with a full-scale war for another six months - until the beginning of 2024.

"The key assumption of the forecast is that security risks will start to decline significantly from early 2024. An extended full-scale war by Russia and further destruction of critical infrastructure remain the key risks," NBU said in a press release on Thursday.