Ukraine's Cabinet reviews inflation forecast in draft budget for 2018


Ukrainian Prime Minister Volodymyr Groysman has announced the government has reviewed the inflation forecast in the draft budget for 2018, having increased it to 9% from 7%.

Photo from UNIAN

"This year's Inflation will be 11.2%, and we are optimistic about inflation next year, which is expected to decline to 9%. This means that people's purchasing power will be higher and prices will be more stable," Groysman said at a government meeting on Friday, December 1.

Read alsoIMF worsens inflation forecast for UkraineLater, the Ukrainian Economic Development and Trade Ministry said the government retained the forecast of Ukraine's economic growth at 3% in 2018, 3.6% in 2019, and 4% in 2020. At the same time, inflation is projected at 9% in 2018, 6.5% in 2019, and 5% in 2020. The unemployment rate is expected at 9.1% in 2018, 8.9% in 2019, and 8.5% in 2020, while real wages may grow by 9.6% in 2018.

As UNIAN reported earlier, while presenting the 2018 draft budget on September 18, Groysman said that the document provided for 3% GDP growth, 7% inflation and a 2.4% budget deficit.