Ukraine's government forecasts inflation at 6.2% in 2022

GDP growth is projected at 3.8% in 2022 / Photo from UNIAN, by Volodymyr Hontar

GDP growth is projected at 3.8% in 2022 / Photo from UNIAN, by Volodymyr Hontar

Inflation in Ukraine is forecast at 6.2% in 2022, 5.3% in 2023, and 5% in 2024.

The figures are mentioned in the Outlook for the Economic and Social Development of Ukraine for 2022-2024, which was approved by the Cabinet of Ministers on May 31, according to the Economy Ministry's press service.

Read also Ukraine handles first US$40.75 mln payment on GDP-linked warrants

At the same time, GDP growth is projected at 3.8% in 2022, 4.7% in 2023, and 5% in 2024.

Real average monthly salaries and wages may grow by 4.4% in 2022, 6.1% in 2023, and 5.6% in 2024.

Unemployment is forecast at 8.5% in 2022, 8% in 2023, 7.8% in 2024.

The growth in exports of goods and services in 2022 is projected at 6.5% with a subsequent acceleration in growth rates to 7.7% in 2023 and to 7.9% in 2024.

"It is assumed that in 2022-2024 the development of the economy will proceed along a trajectory of accelerating economic growth. Thus, investment demand will grow at the highest rates, and the role of bank lending in financing investment projects will be increasing. State programs for financial assistance, development of housing leasing, the creation of proper infrastructure in the capital markets will facilitate the development of businesses and investment in the Ukrainian economy," it said.

National budget

  • The national budget for 2021 provides for the growth of Ukraine's gross domestic product at 4.6%.
  • The International Monetary Fund predicts that the Ukrainian economy will grow by 4% in 2021, and the World Bank expects a moderate recovery of the Ukrainian economy in 2021 with GDP growth by 3.8%.

Translation: Akulenko Olena

Unian

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