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Government predicts inflation rate in Ukraine to drop to 5%

The basic forecast includes inflation rate at 5.5%, and optimistic - 5.8%
15:17, 7 November 2019

Kyivpost

According to the basic forecast of the Ministry of Economic Development, Trade and Agriculture, the inflation rate in Ukraine will be 5.1% in 2022, and according to the optimistic forecast —  5.0%. Minister of Economic Development, Trade and Agriculture of Ukraine, Tymofiy Mylovanov reported it on Facebook.

At the same time, according to scenario №2 (optimistic one – ed.), the inflation rate is projected at 5.8% in 2020, and at 5.0% in 2021 and 2022.

"The difference between basic and optimistic projections is in the level of investment in the economy. In an optimistic scenario, there would be additional 3 billion dollars of external investment. To implement this scenario, we need to improve the business climate, the absence of corruption in government and at the local level, judicial system needs to work, reforms (including the liberal land market and privatization) need to be there," Mylovanov said.

Related: Cabinet of Ministers allocates 48,5 millions dollars for thermo-modernization of houses

He believes that in the case of the optimistic scenario, the inflation rate will be higher by 0.3 percentage points in the first year due to increased investment.

As we reported earlier, as of November 1, 2019, the international reserves of Ukraine, preliminary made $21.402.900 (in equivalent) as the National Bank of Ukraine reported.

In October, the international reserves of Ukraine decreased by 0.2%. It happened due to the costs for service and payment of the state debt in foreign currency - $632.2 million.

Related: Ukraine’s government attraction of €450 credit for development of Trans-European Transport Network

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