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Cabinet approves new GDP, inflation, exchange rate forecast

The US dollar is expected to cost around 27 hryvnyas next year.

Photo: Max Trebukhov

The Cabinet of Ministers has approved the key macroeconomic indicators for 2020-2022, Prime Minister Oleksiy Honcharuk has said.

"The Economy Ministry has presented two scenarios along which the country will develop next year. The first scenario is a basic, conservative one," he said.

Basic scenario No 1:

GDP growth in 2020 by 3.7% (previous forecast 3.3%), in 2021 by 3.8% (unchanged), in 2022 by 4.1% (unchanged)

Inflation (December to December) in 2020 by 5.5% (previous forecast 6%), in 2021 by 5.3% (previously 5.7%), in 2022 by 5.1% (previously 5.3%)

The average nominal wage by the end of 2020 is expected at 12,497 hryvnyas, by the end of 2021 at 14,187 hryvnyas, and by the end of 2022 at 16,014 hryvnyas.

The average exchange rate in 2020 is 27 hryvnyas per dollar (previously 28.2 hryvnyas per dollar).

Scenario No 2:

GDP growth in 2020 by 4.8%, in 2021 by 5.5%, in 2022 by 6.5%

Inflation (December to December) in 2020 by 5.8%, in 2021 by 5%, in 2022 by 5%

The average exchange rate in 2020 is 24.8 hryvnyas per dollar.

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