Economy 2021-05-07T04:01:56+03:00
Ukrainian news
Economy Ministry Expects 4.1% GDP Growth In 2021

Economy Ministry Expects 4.1% GDP Growth In 2021

Economy Ministry, GDP, GDP growth, GDP forecast

The Ministry of Economic Development, Trade, and Agriculture expects Ukraine's GDP to grow by 4.1% in 2021.

This is stated in an expert consensus forecast from the ministry, the Ukrainian News Agency reports.

"According to experts, GDP growth is expected at 4.1% in 2021 (compared with the previous estimate of 3.2% as of July 2020), GDP is projected at 3.7% in 2022," the document states.

When the economy entering a growth trajectory, the need for labor will gradually increase and the unemployment rate will fall (the consensus estimate for 2021 remains unchanged at 9.2% but the estimate for 2022 is that it will slightly increase from 8.5% to 8 7%).

As Ukrainian News Agency earlier reported, the National Bank has downgraded the inflation forecast for 2021 from 7% to 8% and the GDP growth forecast from 4.2% to 3.8%.

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