Ukraine economy may grow by 2.2% – S&P forecast

15:20, 13 November 2017

The economy of Ukraine was able to survive the shock of a blockade of trade with Donbas in the first quarter of 2017; it is expected to grow by 2.2% at the end of the year, according to S&P Global Ratings

Photo from UNIAN

Ukraine's real GDP growth is expected to accelerate to 2.9% in 2018, to 3% in 2019, and to 3.2% in 2020, according to the agency's website.

Consumer inflation may reach 14.3% this year, 8.7% in 2018, 8% in 2019, and 7.5% in 2020, S&P said.

The national currency rate was forecast at UAH 26.9 per dollar at the year-end, while UAH 27.3 in 2018, UAH 27.5 in 2019 and 2020.

As UNIAN reported earlier, S&P Global Ratings affirmed its 'B-/B' long-term foreign and local currency sovereign ratings on Ukraine with stable outlook.

The International Monetary Fund on October 10 suggested the country's GDP would grow by 2% in 2017 with inflation at a rate of 10% at the year-end.

Read alsoIMF worsens inflation forecast for UkraineOn October 3, the World Bank also retained its forecast for Ukrainian economy growth at 2% in 2017 with the inflation at 10%.

The Cabinet of Ministers of Ukraine projects economic growth at 1.8% in 2017 amid 12.9% inflation, while the National Bank forecasts the growth at 2.2% amid 12.2% inflation at the year-end.

Read alsoWorld Bank head arrives in UkraineUkraine's GDP rose by 2.3% in the second quarter (Q2) of 2017 year-over-year (y-o-y), while it rose by 2.5% in Q1 2017 y-o-y.

Inflation in Ukraine in October 2017 was 1.2% from September 2017, while it accounted for 14.6% y-o-y.

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