IMF improves forecast for Ukraine's GDP to minus 7.2% this year


Ukraine and world news. Ukrinform brings the latest news, daily news, political news, business news, social news, cultural news, sports news, international news

The International Monetary Fund (IMF) expects Ukraine's GDP to fall to minus 7.2% in 2020 compared to minus 8.2% projected by the Fund earlier in June, according to the IMF's October 2020 World Economic Outlook report.

At the same time, it is expected that Ukraine's economy will get stabilized in 2021, and real GDP growth will reach 3%.

According to IMF projections, Ukraine's consumer price index will fall from 7.9% in 2019 to 3.2% in 2020 and will rise to 6% in 2021. The current account balance will reach 4.3% in 2020 and decrease to minus 3% in 2021. The unemployment rate in Ukraine, according to the IMF, will increase to 11% in 2020 and fall to 9.6% next year.

The decline in economic forecasts for Ukraine's economy generally corresponds to global trends related to the financial and economic crisis caused by the coronavirus pandemic.


Related news

Banks in Ukraine positive of prospects for lending next year.

Requirements for borrowers were relaxed in the third quarter.

Hryvnia weakens to U.S. dollar on October 26

The official forex rate against the euro for Monday is fixed at UAH 33.55 per euro.


Week's balance: President defends economic achievements, NBU keeps key rate unchanged, while hryvnia stops its fall.

President of Ukraine Volodymyr Zelensky in his annual address to the Verkhovna Rada said that the Ukrainian economy has withstood the blow of the pandemic and will be able to emerge stronger from crisis, the National Bank has kept the key rate at ...

7 7

PM Shmyhal: Boosting gas output, energy independence among government's priorities.

The prime minister commissioned the ministries to intensify the work on concluding relevant agreements.

Ukrainian farmers gathered grain and leguminous crops from 83% of area – Economy Ministry.

As of October 22, 2020, Ukrainian farmers harvested 48.8 million tonnes of grain and leguminous crops from 12.7 million hectares (83% of the forecast), according to the Ministry for Development of Economy, Trade and Agriculture.


Economy ministry plans to amend procedure for supporting agrarian sector.

The ministry is ready to work hard to improve and develop the relevant activities.

Final U.S. presidential debate moves world shares, U.S. stock futures higher

The debate over, investors will again be focused on hopes for another round of aid for the U.S. economy.

Ukraine exports almost 15 mln tonnes of grain since new MY.

In particular, over 10 million tonnes of wheat was exported.

1 9

Ukraine's premier supports memo with IFIs on stock market development, worsens terms assessment from year to three.

Prime Minister of Ukraine Denys Shmyhal heard the concept of the stock market development in Ukraine and supported the initiative to sign a memorandum with international partners and stakeholders with a step-by-step implementation of the necessary...

No obstacles for Ukraine to get IMF tranche by year-end – deputy finance minister.

Earlier, there were certain concerns about the resignation of NBU Governor Yakiv Smolii.

By continuing to browse World News (UAZMI), you acknowledge that you have read the Terms of Use and agree to the use of cookies