In 2022-2023, Ukraine’s economy will grow by 4% annually

Friday, July 30, 2021
In 2022-2023, Ukraine’s economy will grow by 4% annually

The Ukrainian economy will recover thanks to an increase in both internal and external demand, according to the quarterly inflation report of the National Bank of Ukraine for July 2021

According to the regulator's forecast, in 2021 Ukraine's GDP will grow by 3,8%, and the main driving force will be private consumption, which will increase by 8%.

“This factor, together with favorable conditions for foreign trade, compensate for the losses of the economy due to the strengthening of quarantine in winter and spring and the action of other temporary factors. Economic activity will also pick up on strong external demand. Favorable terms of trade will improve the financial condition of exporters and restore investment activity. In addition to high private consumption, this will be facilitated by a significant demand for Ukrainian export goods, as well as the revival of investment activities of investing-in-ukraine/starting-business-in-ukraine/build-an-enterprise/" rel="dofollow">enterprises due to better financial results and increased lending,” said the National Bank of Ukraine.

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