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Ukraine's inflation to accelerate to 4.7% by end of 2020, - National Bank

Source : 112 Ukraine

According to the NBU, the Ukrainian economy is on its way to recovery
13:37, 31 July 2020

National Bank of Ukraine

Even though Ukraine's economy has finally begun to recover gradually, the country's inflation rate will accelerate to 4.7% by the end of this year, according to the NBU's press service.

"In its turn, inflation will accelerate to 4.7% by the end of 2020 and will also be close to the medium-term goal of the National Bank of 5% in the coming years," the statement said.

It was noted that the economy would shrink by 6% in 2020, but its growth will be nearly 4% in the coming years.

Related: Covid-19 crisis is 'devastating blow' for world economy, - World Bank

The National Bank added that the worst period for the economy was over.

As we reported earlier, the Ukrainian government approved the Forecast of Economic and Social Development of Ukraine for 2021-2023.

According to the forecast, the gross domestic product will amount to 4,505.9 billion hryvnias/162.7 billion dollars (104.6% compared to the previous year) in 2021, in 2022 - UAH 5,089.4 billion hryvnias/183.8 billion dollars (104.3% compared to the previous year), in 2023 - 5,689.7 billion hryvnias/205.05 billion dollars (104.7% compared to the previous year).

Related: Zelensky expects Ukraine to survive potential economic crisis

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