The Cabinet of Ministers approved macroeconomic indicators for 2021-2023.
The corresponding decree was adopted on July 29 with revision within three days during a government meeting, Ukrainian News Agency reports.
In 2021, GDP growth is projected at 4.6% with inflation of 7.3%.
At the same time, in 2022, GDP growth is expected at the level of 4.3% with inflation of 6.2%, and in 2023 - 4.7% and 6%, respectively.
The trade balance deficit is projected at USD 10.4 billion next year, and USD 13.6 billion in 2022.
Exports are expected to increase by 2.9% next year and by 6.4% in 2022, while import growth is projected at 10.6% and 10%, respectively.
At the same time, unemployment is forecasted by years, respectively - 9.2%, 8.5% and 8%.
During his speech, Prime Minister Denys Shmyhal noted that from January 2021, the minimum wage will be increased to UAH 6,000, and from the second half of 2021 - up to UAH 6,500.
At the same time, the ministry calculated that with an average annual exchange rate of 27 UAH/USD, the growth of real GDP compared to the baseline scenario in 2021 will decrease by 0.5 percentage points, with an exchange rate of 28 UAH/USD - by 0.2 percentage points.
"With an average annual exchange rate of 28 UAH/USD, real GDP growth will decrease by 0.2 p.p., while the volume of imports of goods and services will increase in real terms by 0.24 p.p., while exports of goods and services will decrease by 0.21 p.p., final household expenditures - by 0.02 p.p. and the gross accumulation of fixed capital by 0.03 p.p.," stated in the explanatory note to the draft resolution.
As part of the assessment of fiscal risks for the budget, the Ministry of Economy on the basis of an integral econometric model made a simulation of the impact of a stronger hryvnia on forecast macroeconomic indicators.
As Ukrainian News Agency earlier reported, in October 2019, the Cabinet of Ministers revised its macroeconomic indicators for 2020-2022.
In March 2021, the Cabinet of Ministers revised the macroeconomic indicators for 2020.
The decline in GDP this year is projected at 4.8%.
Inflation is expected at 11.6%.
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