Photo: NBU Press Center
Ukrainian economy will grow less than expected this year
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The growth of the Ukrainian economy is hampered by quarantine restrictions and high energy prices.
The growth of the Ukrainian economy is constrained by the situation with the coronavirus and energy prices, according to the report Of the National Bank for October.
The NBU recalled that in the first half of the year, GDP growth was lower than expected, but in the second half of the year it is accelerating due to stable consumer demand, a revival of investments and a record harvest.
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“However, the worsening epidemic situation and high energy prices will restrain real GDP growth. By the end of the year, it will amount to 3.1%,” the report says.
It is noted that due to the introduction of red quarantine zones, Ukraine’s GDP by the end of the year may lose 0.8 p.p.
Taking into account quarantine restrictions, higher energy prices and a slower-than-expected recovery in the first half of the year, the NBU worsened economic growth forecast in 2021 from 3.8% to 3.1%.
According to the Ministry of Economy, GDP growth in Ukraine for eight months 2021 was 2.9%.
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