# Ukraine faces first economic contraction since 2022 as Russian strikes hit businesses

https://mins.news/en/item/121175

- The Kyiv Independent, 2026-10-29 16:51 UTC
- Economy
- Original: https://kyivindependent.com/ukraine-heads-for-first-economic-decline-since-2022-as-russian-strikes-take-their-toll/

> Ukraine’s National Bank cut its growth forecast for this year from 1.8% to a 0.4% contraction, citing Russia’s port blockade and attacks on logistics and production facilities. It also raised the benchmark rate from 16% to 16.5% and forecasts inflation of 12.5% by year-end.

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- [Ukraine loses nearly 1.9% of GDP to explosions since start of year](https://mins.news/en/item/124175) — TASS, 2026-11-01