KYIV, Nov 22 – Dragon Capital investment company, one of the leaders in the Ukrainian market, worsened its forecast for a decline in real GDP this year by 2 percentage points, to 32% and retained its forecast for a decline in 2023 by another 5%, despite the improvement in the key assumption about the course of the war.

"The negative impact on the Ukrainian economy from power outages resulting from Russian shelling of energy infrastructure has been moderate so far. However, the shelling is likely to continue, and the increase in electricity demand in winter will force the scale and duration of outages to increase," the company said.