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Economy 2019-11-17T04:01:41+02:00
Ukrainian news
EBRD Raises 2019 GDP Growth Forecast For Ukraine From 2.5% To 3.3%, Expects 3.5% Growth In 2020

EBRD Raises 2019 GDP Growth Forecast For Ukraine From 2.5% To 3.3%, Expects 3.5% Growth In 2020

EBRD, GDP, GDP growth

The European Bank for Reconstruction and Development (EBRD) has improved its forecast for Ukraine's GDP growth in 2019 from 2.5% to 3.3% and expects a 3.5% growth in 2020.

This is stated in materials from the EBRD, the Ukrainian News Agency reports.

“The EBRD says Ukraine’s economy remained resilient to political factors but the pace of growth will stay somewhat modest. The country’s GDP growth is set to stay at 3.3 per cent in 2019 (a repeat of the 2018 result) and will accelerate slightly to 3.5 per cent in 2020," the statement said.

According to the statement, the booming construction sector and strong real growth in disposable income were among the factors that helped Ukraine weather the turmoil caused by political developments and ongoing geopolitical instability.

“Bearing in mind the large public-sector foreign-exchange debt repayments falling due in 2020-21, the new IMF reform-oriented program is crucially important for anchoring investors’ expectations and supporting macroeconomic stability,” the EBRD Regional Economic Prospects report states.

As Ukrainian News Agency reported earlier, the Cabinet of Ministers approved the second reading of the draft state budget for 2020 at an extraordinary government meeting on October 3.

The Ministry of Economic Development, Trade, and Agriculture has improved its GDP growth forecast for 2020 from 3.3% to 3.7%.

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