KYIV, July 25 – The National Bank of Ukraine (NBU) has improved the gross domestic product (GDP) growth forecast for this year from 3% to 3.7%, but has downgraded the 2025 forecast from 5.3% to 4.1%, according to the updated macroeconomic forecast of the regulator.

"Despite power shortages and smaller harvests compared to a year ago, the NBU has even slightly upgraded its economic growth forecast for this year, to 3.7%. This was made possible by better Q1 results and an anticipated expansion of fiscal stimulus, as well as by the development of distributed generation with support from large-scale lending programs," the NBU press release stated on Thursday.