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IMF raised its forecast for Ukraine GDP growth to 4%

April 08/2021

MOSCOW (MRC) -- The IMF predicts GDP growth in Ukraine in 2021 at 4% against 3% in the October report, Epravda said.

In 2022, growth will be 3.4%. The IMF also provided forecasts for inflation and unemployment. According to the Fund, in 2021 the price level in Ukraine will grow by 7.9%, in 2022 - by 6.8%. The unemployment rate is expected to be 8.6% in 2021, and 8.4% in 2022.

As noted in the Fund, the better predicted results for 2020 are associated with quarantine mitigations and the adaptation of economies to work in the new conditions. In addition, additional fiscal support in the "big economies" and vaccination expectations have worked.

Global growth is expected to stabilize at 3.3% over the medium term. This indicator reflects the expected damage due to reduced production, as well as factors independent of the pandemic. In particular, the slow growth of the workforce associated with aging.

In total, the IMF said that the consequences of the coronavirus crisis will be softer than the consequences of the 2008 global financial crisis. At the same time, the Fund added that countries with emerging economies and low-income countries are experiencing a bigger blow - and, accordingly, will suffer more significant losses.

Earlier it was reported that the World Bank raised its forecast for the growth of Ukraine's gross domestic product in 2021 from 3% to 3.8%.

Ukraine's real GDP decreased by 4% in 2020, nominal GDP, that is, in actual prices, amounted to UAH 4.194 trillion. The Ministry of Economy retains the forecast for the growth of the Ukrainian economy in 2021 by 4.6% of GDP.


mrcplast.com
Author:Anna Larionova
Tags:Ukraine.
Category:General News
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