section_path: Impacts/Economic impact/Ukraine
section_name: Ukraine
paragraph_text: Ukraine
  
  Ukrainian Minister of Economic Development and Trade Yulia Svyrydenko announced that for 2022 Ukraine had a 30% loss in their gross domestic product (GDP). The International Monetary Fund predicted that Ukraine's GDP would suffer a decrease from a minimum of 10% to a maximum of 35%; the European Bank for Reconstruction and Development also predicted that the invasion would cause a 20% decrease of Ukraine's GDP. The Ukrainian statistics service said that the GDP of Ukraine in 2023 grew by 5.3%.
  
  Ukraine began issuing war bonds on 1 March 2022, and the following day the Ukrainian government announced that they had raised 6.14 billion hryvnias. A ban was placed in May 2022 by the European Commission on grain sales in the countries of: Bulgaria, Poland, Hungary, Romania and Slovakia with the only exception being if they were transiting through those countries with the ban being lifted in September 2023.
  
  The war has caused a major humanitarian crisis in Ukraine: the United Nations Development Programme calculated in March 2022 that a prolonged conflict would cause 30% of the Ukrainian population to fall below the poverty line, while a further 62% would be at risk of also falling into poverty within a year.