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Ukraine's Economy Ministry improves its inflation forecast for 2020

Source : 112 Ukraine

The ministry forecasts an average annual rate of 28.3 hryvnias per dollar by the end of 2020
11:51, 27 August 2020

zik.ua

The Ministry for Development of Economy, Trade and Agriculture of Ukraine has improved the inflation forecast for 2020 to 5.9% (from December to December). The previously approved figure was 11.6%. This was reported by Interfax-Ukraine.

According to the document, the ministry forecasts an average annual rate of 27 hryvnias per dollar (previously expected to be 29.5 hryvnias per dollar), and by the end of 2020 - 28.3 hryvnias per dollar.

At the same time, following the results of this year, the Ministry of Economy expects a trade deficit of 5.4 billion dollars. (previously, this figure was estimated at 8.3 billion dollars).

Related: Minimum wage raise in Ukraine: Consequences for economy and living standards

As we reported earlier, the European Commission approved the decision, which consolidates the increase in trade between the European Union and the countries of the pan-European and Mediterranean region, including Ukraine.

"The European Commission has approved a number of proposals to increase trade between the EU and neighboring countries in the pan-European region in order to contribute to the economic recovery. Today's proposals are aimed at modernizing preferential trade agreements, which totaled 677 billion euros in 2019," the statement said.

Related: Economy of Ukraine in coming years will grow by more than 4% of GDP, - Ministry of Economy

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