The Cabinet of Ministers worsened the GDP growth forecasts

В Кабмине ухудшили прогнозы роста ВВП

The growth of Ukraine’s GDP will drop slightly

In 2018, GDP growth is projected to be 3.1 percent and next year is expected to further decline to 3.0%.

The Ministry of economic development and trade (MEDT) on Monday, September 24, released the updated consensus forecast for the economy of Ukraine. According to new data, in 2018 in Ukraine, GDP growth is expected at 3.1% inflation rate (December to December) of 9.5%.

In addition, next year’s GDP growth to slow marginally to 3.0% with an inflation rate of 7.4%.

However, according to the forecast, in 2020-2021 years the growth of the Ukrainian economy to accelerate, respectively, to 3.1% and 3.9%.

In April of this year, experts expected an increase of Ukraine’s GDP this year to 3.2% with an inflation rate of 9.7%, in 2019 – 3.1% with an inflation rate of 8%. The growth of the economy in 2020 was estimated by them in April at the rate of 3.3%, and in 2021 – 4%.

Respondents from the Ministry analysts also expect the depreciation of the hryvnia by the end of this year to 29.6 UAH/$1 by the end of next – to $30.6 UAH/$1. According to their estimates, a small devaluation of the national currency will continue in the next two years: to $32 UAH/$1 at the end of 2020 and $33,2 UAH/$1 at the end of 2021.

The minimum and maximum assessment rate for the next year are, respectively, $29.4 per UAH/$1 and $34 UAH/$1, 2020 – $30,2 UAH/$1 and $37 UAH/$1, and 2021 – $30,7 UAH/$1 and $40 UAH/$1.

Earlier, the IMF published a forecast for the development of Ukraine’s economy in five years, according to which the country expects 50% growth in GDP per capita.

The growth of Ukraine’s GDP in the second quarter is 3.8%. The national Bank expects slowing economic growth in the coming years.

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