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Economy 2020-10-30T04:02:48+02:00
Ukrainian news
IMF Improves Forecast For 2020 GDP Decline In Ukraine From 8.2% To 7.2%

IMF Improves Forecast For 2020 GDP Decline In Ukraine From 8.2% To 7.2%

IMF, GDP, forecast, inflation, WEO, GDP forecast

The International Monetary Fund (IMF) has improved its forecast for real GDP decline in Ukraine in 2020 from 8.2% to 7.2%.

This is stated in the IMF's World Economic Outlook (WEO), the Ukrainian News Agency reports.

In addition, the IMF improved its forecast for economic growth in Ukraine in 2021 from 1.1% to 3%, accelerating to 4% in 2025.

At the same time, it improved the forecast for the average annual inflation rates in Ukraine from 4.5% to 3.2% in 2020 and from 7.2% to 5% in 2021.

The inflation rates in Ukraine are projected at 5.2% in 2020 and 5.8% in 2021.

The IMF also improved its forecast unemployment rate in Ukraine. It previously forecast that the unemployment rate in the country would rise from 8.5% to 12.6% in 2020, reduce to 12% in 2021. According to the updated forecast, the unemployment rates will be 11% in 2020 and 9.6% in 2021.

As Ukrainian News Agency earlier reported, the Ministry of the Development of Economy, Trade, and Agriculture has stated that Ukraine’s GDP declined by 5.8% in January-August.

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