Economy 2022-07-15T07:03:59+03:00
Ukrainian news
Experts Retain GDP Growth Outlook At 3% For 2019

Experts Retain GDP Growth Outlook At 3% For 2019

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GDP, outlook

In compliance with the consensus-forecast, experts retain the gross domestic product growth outlook at 3% for 2019.

The Ministry of Economy of Ukraine has said this in a statement, Ukrainian News Agency reports.

"Experts who took part in discussing of macroeconomic outlook expect the GDP growth to make 3.1% in 2018, 3% in 2019, 3.1% in 2020, and 3.9% in 2021. On the whole, the outlook remained unchanged as compared to the September consensus forecast," the statement says.

The experts expects inflation in 2018 (December over December) to be 10.1%, 8% in 2019, 6.9% in 2020, and 6% in 2021.

Further lower credit activity across commercial banks, considerable increase in gas tariffs for the population, deterioration of employment situation (labor migration and refugees) and devaluation in the foreign currency market were marked as the most significant domestic risks.

In 2018-2021 the noteworthy external risks are expected to be increase in the number of hybrid threats to national security of Ukraine, deficit of foreign financing and narrowing of opportunities to access international capital markets.

According to the experts, to achieve sustainable economic development, Ukraine needs to switch to investment model of economy development in the longer term.

That would allow the country to have a sustainable growth at the level of 6-7%.

As Ukrainian News Agency earlier reported, in compliance with the September consensus forecast of the Economy Ministry, experts worsened the GDP growth outlook from 3.2% to 3.1% in 2018.

In 2019, they expected the growth of 3% at the inflation of 7.4%.

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