Government forecasts acceleration in Ukraine's GDP growth in 2018 to 3%, slowdown in inflation to 7%

15:22, 31.05.2017 1 min read

The growth of Ukraine's gross domestic product (GDP) in 2018 will accelerate from 1.8% in 2017 to 3% in 2018, 3.6% in 2019 and 4% in 2020, such a basic macro scenario was approved by the Ukrainian government at a meeting on May 31.

"According to this scenario, the rates of business' adaptation to new conditions, preservation of significant challenges and risks in the economy are considered moderate," First Deputy Prime Minister Stepan Kubiv said.

He said a more optimistic scenario of business' adaptation assumes a GDP growth of 4% in 2018-2019 and its acceleration to 5% in 2020.

Under the pessimistic scenario of the unstable global economy, GDP growth in 2018 will slow down to 1.2%, in 2019 to 1%, and in 2020 will be 1.7%, Kubiv added.

According to the draft resolution, the approved scenario assumes a slowdown in inflation (December to December) from 11.2% this year to 7% in 2018 and then to 5.9% in 2019, and 5% in 2020.