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National Bank expects weak impact of lockdown on Ukrainian economy

Source : 112 Ukraine

The financial authority expects gradual growth of inflation rate within the next year
18:15, 10 December 2020

Open source

The total lockdown in Ukraine in January 2021, which was previously announced by the government will not significantly affect the inflation rate. Press office of the National Bank of Ukraine reported that on December 10. 

"By the estimates of the National Bank, the quarantine announced for January 2021 by the government, will not considerably affect the economic activity, consumers' demand and, ergo, the inflation", reads the message.

The National Bank expects gradual growth of inflation rate within the next year, with the return to the target range of five percent. During the next few months, the Bank also expects further growth of consumer prices.

Related: Ukrainians 'must stick to rules' of new lockdown: What are the latest restrictions?

Earlier, the Ukrainian Cabinet supported the decree about introduction of tough quarantine measures to combat the spread of Covid-19 in Ukraine; the lockdown is supposed to take place from January 8 to January 24. 

Related: Official explains date of lockdown’s beginning in Ukraine, January 8

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