Economy 2021-10-15T05:14:28+03:00
Ukrainian news
Moody's Expecting Ukraine’s GDP To Fall By 4.5% In 2020

Moody's Expecting Ukraine’s GDP To Fall By 4.5% In 2020

Ukraine, GDP, Moody's, rating agency, gross domestic product

The Moody's international rating agency is expecting Ukraine’s gross domestic product to fall by 4.5% in 2020 and its restoration by 3.6% in 2021.

The agency has said this in a statement, Ukrainian News Agency reports.

Moody's also expects that the economy will plummet this year over the limitations for domestic activity, a weaker external demand and lower intensity of remittances.

The economic growth, according to the agency, will gradually start restoration from the second half of 2020, at the same time, the outlook for the real GDP growth is about 3.6% in 2021.

According to Moody's, the state budget deficit will grow to 7.5% of the GDP in 2020 from 2% of the GDP in 2019.

According to Moody's, despite the possible that the investors’ sentiments to Ukraine might improve thanks to the new program with the International Monetary Fund (IMF), nevertheless the investors will remain constrained over an increased risk aversion at global scale and instability of the domestic policy.

In compliance with the outlook, the foreign currency reserves of Ukraine will make about USD 22 billion as at the end of the year thanks to the new program with the IMF.

As Ukrainian News Agency earlier reported, the IMF has revised downward the outlook for the GDP fall in Ukraine from 7.7% to 8.2% in 2020.

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