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Economy 2019-09-15T04:15:22+03:00
Ukrainian news
EBRD Downgrades Forecast For Ukraine’s GDP Growth In 2019 From 3% To 2.5%

EBRD Downgrades Forecast For Ukraine’s GDP Growth In 2019 From 3% To 2.5%

The European Bank for Reconstruction and Development (EBRD) has downgraded the forecast for Ukraine’s GDP growth in 2019 from 3% to 2.5%.

This follows from the EBRD materials, Ukrainian News Agency reports.

In 2020, the growth of the Ukrainian economy, according to the EBRD forecast, is expected to be at the level of 3%.

The bank analysts explain a temporary decline in the economic growth through the internal political uncertainty after the past and the upcoming elections, as well as a decline in the growth of trade with major partners.

The resumption of reforms after the elections, together with the easing of monetary-credit policy, would contribute to the strengthening of corporate activities, while the real growth of the economy will reach 3% in 2020.

According to the bank, large payments on public debt in the current and next years pose a serious risk to the economic development of Ukraine.

Therefore, maintaining cooperation with creditors remains vital for the recovery of the country's economy.

As Ukrainian News Agency earlier reported, the National Bank estimates GDP growth in January-March this year at 2.4%, the Ministry of Economic Development - at 2.2%.

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