Fitch forecasts Ukraine’s growth to slow to 2.6% in 2019

Fitch forecasts Ukraine’s growth to slow to 2.6% in 2019

Ukrinform
International rating agency Fitch Ratings forecasts Ukraine’s economic growth to slow to 2.6% in 2019.

“Fitch expects [Ukraine’s] growth to slow to 2.6% in 2019, down from 3.2% in 2018, due to tighter monetary and fiscal policies, weaker global demand conditions and commodity prices, and more moderate wage increases,” reads the statement posted on Fitch Ratings website.

The agency also noted that the key policy rate has remained at 18% since September 2018 despite reduced inflationary pressures and the implementation of the new IMF programme. As to inflation, Fitch expects that average inflation will drop further to 8.6% in 2019, and decline to 6.2% by end-2020.

It is also noted that investment moods will likely be dependent on political factors during the electoral period.

As Ukrinform reported, Fitch Ratings affirmed Ukraine's Long-Term Foreign-Currency Issuer Default Rating (IDR) at 'B-' with a Stable Outlook.

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