GDP, inflation and the dollar exchange rate: forecasts for Ukraine’s economy has deteriorated

The growth of Ukraine’s GDP in 2017 is expected at the level of 1.8% with inflation on a yearly basis, December to December, 12.2% and an exchange rate of 27.9 UAH/USD. The updated consensus forecast published by the Ministry of economic development and trade (MEDT).

According to the forecast, in 2018, the indicators improved: GDP growth 3%, inflation – 8%. Experts expect in 2019, an increase in GDP by 3.6% with an inflation rate of 5.9% and in 2020 – 4% with an inflation rate of 5%.

The Ministry recalled that four months ago the assessment of the economic recovery in the current year was more optimistic than the 1.9% with an inflation rate of 10.5%, while in 2018, experts expect the same 3% growth, but with inflation of 7%.

As reported, Prime Minister of Ukraine Volodymyr Groysman believes that the goal for 2018 is to achieve growth of the economy 5% of GDP – when laid in the state budget-2018 rate of 3%.

Earlier, the national Bank of Ukraine has revised its forecast for real GDP growth of Ukraine in 2017, reducing it to 1.6%. The Ukrainian government has built a budget-2017 forecast GDP growth of 3% with an inflation rate of 8.1%.