NBU expects Ukraine's GDP to fall to 6% in 2020

15:36, 23.07.2020 1 min read

The National Bank of Ukraine (NBU) has worsened its forecasts of Ukraine's GDP fall from 5% to 6% in 2020, downed the forecast of GDP growth from 4.3% to 4% in 2021 and retained GDP growth forecast at 4% in 2022, the central bank said on its website on Thursday.

"The NBU has revised its forecast of real GDP fall in 2020 caused by the coronavirus crisis from 5% to 6%. A deep fall has been left behind – in the second quarter," it said.

The bank said that in the second half of 2020 Ukraine's economy started to recover, in particular under the influence of an increase in business activities following the quarantine mitigation.