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Politics 2020-09-29T04:02:22+03:00
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S&P Forecasts Drop In Ukraine's GDP By 6% In 2020 And Hryvnia Exchange Rate 29 UAH/USD At End Of Year

S&P Forecasts Drop In Ukraine's GDP By 6% In 2020 And Hryvnia Exchange Rate 29 UAH/USD At End Of Year

Ukraine, economy, rating, hryvnia, exchange rate, GDP, S&P, hryvnia exchange rate, S&P rating agency

The Standard & Poor's international rating agency forecasts a drop in Ukraine's GDP by 6% in 2020 and the hryvnia exchange rate at the end of the year of 29 UAH/USD.

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

S&P analysts forecast a 6% decline in Ukraine's GDP in 2020 and economic growth in 2021, thanks to the revival of domestic demand.

At the same time, GDP growth next year is forecasted at 4% at the rate of 30 UAH/USD.

In 2022 and 2023, the agency expects Ukraine's GDP to grow at 3% and the hryvnia exchange rate at the end of the year of 30.5 UAH/USD and 31 UAH/USD, respectively.

Unemployment is expected to be 10.5% this year, 10% next year, 9% in 2022 and 8.5% in 2023.

Ukraine's international reserves at the end of this year are expected to grow to USD 29.912 billion, at the end of 2021 - to USD 31.189 billion, in 2022 - to USD 33.023 billion and at the end of 2023 - to USD 33.901 billion.

The rating agency forecasts inflation at a rather low level: in 2020 - 3%, 2021 - 6%, 2022 - 5%, and in 2023 - 5%.

As Ukrainian News Agency earlier reported, S&P Global Ratings has confirmed Ukraine's long-term ratings on liabilities in foreign and national currencies at B level with a "stable" outlook.


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