Cabinet approves macroeconomic forecast for 2020-2022

Cabinet approves macroeconomic forecast for 2020-2022

Ukrinform
The Cabinet of Ministers approved the forecast of economic and social development of Ukraine for 2020-2022, which includes two options of indicators for this period, depending on the intensity of raising social standards.

"On May 15, the Cabinet of Ministers approved the forecast of economic and social development of Ukraine for 2020-2022, developed by the Economic Development and Trade Ministry. The scenario presented in the forecast provides for two versions of macroeconomic indicators for 2020–2022, which differ in the level of intensity of raising social standards, which, in turn, will determine the dynamics of the main macroeconomic indicators of the Ukrainian economy for the forecast period,” the press service of the Economic Development and Trade Ministry reported.

According to option 1, GDP growth is projected at the level of 3.3% in 2020, 3.8% in 2021, and 4.1% in 2022. Consumer price growth (December compared to December of the previous year) is expected to reach 6% in 2020, 5.7% in 2021, and 5.3% in 2022.

According to option 2, GDP growth is projected at the level 3.6% in 2020, 3.6% in 2021, by 3.3% in 2022. Consumer price growth (December to December of the previous year) is expected to reach 6.5% in 2020, 7.1% in 2021, and 7% in 2022.

For the period of 2020–2022, the forecast provides for the further implementation of efforts in the expansion and diversification of Ukrainian exports by deepening foreign economic relations with the EU, Asia and Africa against the backdrop of the sustainable development of the global economy during this period and the preservation of reasonable prices for Ukrainian exports in global commodity markets.

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