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IMF worsens economic forecast in Ukraine in 2018

Source : 112 Ukraine

The funder predicted Ukraine’s economic growth by 3,2% in 2018. Yet, in October, it increased the forecast to 3,5%
10:31, 19 December 2018

National Bank

The International Monetary Fund has worsened the forecast concerning Ukraine’s GDP growth from 3,5% to 3,3% according to the results of 2018. The relevant figures are presented in IMF press-release on approval of new cooperation program with Ukraine.

Earlier, the funder predicted Ukraine’s economic growth by 3,2% in 2018. Yet, in October, it increased the forecast to 3,5%.

Related: IMF approves stand-by program of financial aid for Ukraine, - Poroshenko

Besides, the Fund worsened the forecast of GDP growth for 2020 from 3,4% to 3%. The predictions concerning the economy growth remained unchangeable – 2,7%.

The IMF also worsened the estimation of the deficit of the current account balances for 2018 to 3,3% from 3,1% of GDP. The forecast for 2019 is improved – from 3,9% to 2,9%. In 2020, the deficit of the current account balances at the level of 2,2% of GDP is expected.

Related: National Bank of Ukraine predicts IMF tranche supply until December 25

The Fund expects that the foreign investments to Ukraine will make $1,7 billion following the results of 2018, which is by $600 million less than a year before. In 2019, the foreigners will decrease investments to Ukraine ($1,6 billion), and in 2020, the number of foreign investments will make $1,7 billion again.

The inflation rate in 2018 will make 11% and will be falling down during the next couple of years – to 9,2% in 2019 and 6,9% in 2020.

Related: IMF announces date of meeting on cooperation with Ukraine

The level of unemployment will also decrease – from 9,2% in 2018 to 8,6% in 2019 and 8% in 2020.

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