Economy 2021-09-15T08:34:17+03:00
Ukrainian news
S&P Predicts Ukraine's GDP Growth Of 2.3%, 9.5% Inflation, Hryvnia Rate Of 26.5 UAH/USD In 2017

S&P Predicts Ukraine's GDP Growth Of 2.3%, 9.5% Inflation, Hryvnia Rate Of 26.5 UAH/USD In 2017

ratings, hryvnia, exchange rate, GDP, S&P, Standard & Poor's, agency

International ratings agency Standard & Poor's (S&P) predicts that Ukraine's GDP will grow 2.3% with 9.5% inflation and the hryvnia exchange rate of 26.5 UAH/USD in 2017.

Ukrainian News Agency has seen a respective S&P press release.

"Ukraine's economy has returned to growth in the last two quarters, and we forecast real GDP growth of 1% for 2016 despite weak exports, ongoing security risks, the weak domestic business environment, and the need for fiscal prudence. We expect continuing growth over the forecast period; a pick up in the later years should lead to GDP growth averaging 2.3% annually between 2016-2019," it reads.

The agency also expects a further economic growth in 2017-2019.

In particular, it predicts that Ukraine's gross domestic product will grow 2.3% in 2017, 2.5% in 2018 and 2.7% in 2019.

Nominal GDP will stand at UAH 2,259 billion in 2016, UAH 2,542 billion in 2017, UAH 2,822 billion in 2018 and UAH 3,108 billion in 2019

This year, the agency experts opine, CPI growth will be 14%, decelerate to 9.5% in 2017, and stand at 8% in 2018 and 7% in 2019.

In 2016, S&P forecasts the current account deficit (CAD) will widen significantly to 3.1% of GDP owing to a rebound in imports (the CAD had narrowed sharply in 2015 to 0.2% of GDP owing to import compression following a sharply deteriorated hryvnia).

As the economy stabilizes and exports pick up, the agency estimates the current account deficit to average 2.8% of GDP in 2016-2019.

As Ukrainian News Agency earlier reported, S&P affirmed Ukraine's 'B-/В' credit ratings with Stable outlook.

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