The Ukrainian economy will recover from the effects of the corona crisis in two or three years. This assessment of experts was published by the Ministry of Economy in a report on the impact of coronavirus on Ukraine.
The agency reminded that last year the economy lost 4%, but this year GDP is expected to grow by 4.1%. In the next two years, growth rates will be lower – 3.5% and 3.9%.
“Ukraine needs two to three years to restore the lost potential during the COVID-19 pandemic,” the report said.
It is noted that in terms of entering the growth trajectory, the demand for labor will gradually increase, and the unemployment rate will decrease, but will not reach the pre-pandemic level (consensus estimate for 2021 remained at the previous level and was 9.2%, for 2022 – slightly increased to 8.7% compared to the previous 8.5%).
The consensus estimate of inflation for 2021 is 7.4% against 6% (preliminary estimate), for 2022 – 6.6% as opposed to 6%, respectively. Inflation will return to the National Bank’s targets (5.7% in 2023 and 5.1% in 2024).
According to the NBU, in the first quarter of 2021, Ukraine’s economy shrank by 1.5%. The central bank also downgraded its growth forecast due to quarantine restrictions.
The Cabinet of Ministers has introduced a mandatory declaration of an increase in retail prices for gasoline and diesel fuel by more than 1%. Now the price increase must be reported in 20 days. This is stated in Government Resolution №450 of March 29, 2021, which was updated. The list of socially significant goods to […]
The United Nations has raised its GDP growth forecast to 5.4% (from 4.7% in January) in 2021. This is stated in the report of the organization. According to the UN, after a sharp decline of 3.6% in 2020, the world economy is expected to grow by 5.4% this year. It is noted that global growth […]
Amazon founder and CEO Jeff Bezos sold shares of the company worth about $ 6.7 billion for the period from 3 to 10 May. This was reported by Interfax on Wednesday, May 12, citing data from the Securities and Exchange Commission (SEC). In particular, from May 3 to 6, Bezos sold 1.48 million shares for […]
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The founder of Tesla and SpaceX, Elon Musk, became the highest paid CEO in the United States last year, according to Forbes magazine. The publication reminds that in 2018 Musk gave up his salary at Tesla. Instead, he receives a reward in the form of options on the company’s shares. In 2020, the businessman received […]
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Shares of Ford Motor Co dropped to 1.93% on Friday after the closing of trading on Thursday, automaker reported results of achievement in three months from April to June. Since the beginning of the year, Ford shares have fallen by 28.9%. Ford Motor reported second-quarter losses of – $ 0.35 per share, which is better […]Next
An art lecturer who had a 25-year relationship and a son with a teenage student said he was not sure he loved her any more than his dog and dismissed her as a mere lodger. Kim Woodward was a talented 19-year-old design student when she fell for artist Rupert Ashmore, a Jaguar-driving 36-year-old lecturer at […]Next
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