Ukraine's GDP will decline by 6% in 2020 - NBU

Ukraine's GDP will decline by 6% in 2020 - NBU

Ukraine's gross domestic product will decline by about 6% in 2020, according to preliminary forecasts of the National Bank of Ukraine (NBU).

NBU Governor Kyrylo Shevchenko said this in an interview with the Dzerkalo Tyzhnia (Mirror Weekly) newspaper.

"We estimate that the economy will shrink by about 6% by the end of the year," Shevchenko said.

According to him, there are several forecasts for GDP growth next year – from the NBU, the government, and the IMF.

"So let's look at some consensus data and the actual inflation rate. We do not have official statistics so far, but, according to our estimates, the inflation rate in September has almost not changed in annual terms," Shevchenko said.

According to preliminary forecasts of the Cabinet of Ministers, the decline in GDP this year will be 4.8%, whereas the World Bank forecast a 5.5% reduction in Ukraine's GDP, which is lower than for many countries in the region.


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