Ukrainian government reviews GDP forecast
Ukrinform
The Ukrainian government has specified the macroeconomic forecast for 2020, in particular, having reviewed Ukraine's GDP forecast for 2020, the Ministry of Economic Development, Trade and Agriculture of Ukraine has reported on Facebook.
"Ukraine's GDP forecast for this year has been revised. The fall of 3.9% is currently expected compared to the 3.7% increase, which was previously projected before the global crisis. Unemployment will reach 9.4% against the projected 8.1%, whereas real wages will decrease by 0.3%," the report reads.
The average annual hryvnia exchange rate is projected at UAH 29.5 per U.S. dollar (compared to UAH 27 per U.S. dollar forecast in October 2019). The rise in consumer prices will only temporarily accelerate to 8.7% (compared to 5.5% in the previous forecast) and will return to the target of 5% next year, the ministry said.
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