The International Monetary Fund predicted that Ukraine's economy will decline by 3 percent this year compared to a contraction of 30.3 percent in 2022, the Ukrainian government-run news agency Ukrinform reported on Tuesday, citing a recent IMF report.

The International Monetary Fund said in its World Economic Outlook report that inflation in Ukraine will rise slightly, with consumer prices rising by 21.1 percent this year, compared to 20.2 percent in 2022.

Meanwhile, the unemployment rate decreased to 20.9 percent in 2023 compared to 24.5 percent in 2022, according to the report.

Earlier this month, the World Bank predicted that Ukraine's GDP would increase by 0.5 percent this year.

According to preliminary estimates of the Ukrainian government, the country's economy will decline by 29.2 percent in 2022.