KYIV, Jan 25 – The National Bank of Ukraine (NBU) has improved its estimate of real gross domestic product (GDP) growth in 2023 from 4.9% in the October forecast to 5.7%, maintaining growth expectations in 2024 at 3.6% and worsening the forecast for 2025 by 0.2 percentage points (pp) to 5.8%, the regulator said in a press release on Thursday.

"In Q4, the growth in real GDP exceeded expectations, primary due to better harvests of late crops and the development of alternative export routes. This also created grounds for an improvement in estimates of real GDP growth for the whole of 2023, to 5.7%," the governor of the NBU Andriy Pyshnyy said during a press briefing.