UNITED NATIONS, May 16. /TASS/. The Ukrainian economy is likely to stagnate in 2023, despite IMF loans and international financial assistance, the cost of recovery as of today is estimated at $411 billion. This is stated in the UN report "World economic situation and prospects" released on Tuesday.

"The economy of Ukraine lost a large share of its industrial capacity and energy infrastructure to the war and contracted by 29.1 per cent in 2022. Despite the external financial assistance, including an IMF loan and budget support from the European Union and the United States, the economy is likely to stagnate in 2023. The longer-term outlook for Ukraine will depend on the duration and intensity of the war and its ability to finance reconstruction, with reconstruction cost estimates raised to $411 billion," the report says.

In other CIS countries and Georgia, the dynamics of economic development is positive.

"Energy exporters of the region - including Azerbaijan and Kazakhstan - are set to benefit from the higher oil prices resulting from the OPEC+ agreement. Following a contraction by 1.9 per cent in 2022, the aggregate GDP of the CIS and Georgia is expected to expand by only 0.6 per cent in 2023. Growth is forecast to accelerate to 2.2 per cent in 2024," the document says.