BRUSSELS Ukraine's economic growth will rebound this year and next after a plunge in 2022 caused by the Russian invasion, and inflation is slowing sharply but even in 2025 its economy will still be about 20% below pre-war levels, the European Commission said.

In economic forecasts for the 27-nation European Union and countries, like Ukraine, that want to become members of the bloc, the EU executive arm said on Wednesday that Ukraine's gross domestic product will grow 4.8% in 2023 after a 29.1% plunge in 2022. Next year, Ukraine's GDP is to expand 3.7% and then grow 6.1% in 2025.

The Commission forecast investment in Ukraine would jump 17.0% this year after taking a 34.3% dive in 2022, and rise a further 12.0% in 2024 and 28.0% in 2025.

Inflation, which run at 20.2% last year, is to slow to 13.5% this year and decelerate to 7.7% in 2024, the Commission said.

(Reporting by Jan Strupczewski; editing by Philip Blenkinsop)