Economic Review in January 2023. How Does Monetary Policy Affect Economic Growth?

Since March 2022, the Centre for Economic Strategy (CES), together with the German Economic Team (GET), has been preparing monthly reviews of Ukraine’s economy during a full-scale war. All notes can be found under the link.

In this review, the first in 2023, we looked at the main changes in the sectors of the economy for January. Also, we examined how monetary policy affects economic growth in Ukraine.

Content of the note:

• Macroeconomic trends: latest inflation figures, GDP and forecasts for this year, war damage, business activity.
• Industry overview: what’s happening with metallurgy and agriculture? How are the sectors doing in conditions of power outages?
• Fiscal policy: revenues and expenditures of the state budget last year, tax revenues and volumes of international financial aid.
• Monetary and exchange rate policy: what are the forecasts for the rate, exchange rate and critical indicators for the coming years?

CES traditionally presented a note at the event. Invited panellists:

• Serhii Nikolaychuk, Deputy Chairman of the National Bank of Ukraine;
• Denis Kudin, First Deputy Minister of Economy of Ukraine;
• Nicolaie Alexandru-Chidesciuc, Head of EMEA EM Economics at J.P. Morgan;