Government forecasts Ukraine’s GDP to exceed 11%, inflation to drop to 5% until 2020

Government forecasts Ukraine’s GDP to exceed 11%, inflation to drop to 5% until 2020

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Ukrinform
The Cabinet of Ministers projects that Ukraine’s GDP will grow by more than 11%, while inflation will decrease to 5% until 2020.

Finance Minister of Ukraine Oleksandr Danyliuk said this at a government’s meeting on Wednesday, an Ukrinform correspondent reports.

“According to a conservative scenario, it is projected that GDP will increase by more than 11% in three years, and inflation will decrease to 5%," said Danyliuk.

In addition, Government expects that it will be possible to increase the financial resource of local budgets, because the country needs solvent communities.

"In 2018, it will total almost [UAH] 500 billion, which is by 16% more than in 2017. And by 2020, the volume will increase to UAH 533 billion. The projected income of local budgets will also significantly increase from UAH 248 billion in 2018 to UAH 284 billion in 2020,” said Daniliuk.

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