The European Bank for reconstruction and development (EBRD, EBRD) has lowered its growth forecast for gross domestic product (GDP) from 3% to 2.5% by the end of 2019, 2020, economic growth is expected at 3%.
A temporary reduction in economic growth, the Bank’s analysts explain the internal political uncertainty in view of past and upcoming elections, as well as a slowdown in the economies of major trading partners of Ukraine.
At the same time, the revival of the reform program after the elections, together with the softening of monetary-credit policy contributed to the strengthening of corporate activities, while real economic growth will reach 3% in 2020, the report said.
The Bank also emphasizes scheduled for 2019-2020 large payments on the public debt represent a serious risk for economic development of Ukraine. Therefore, maintaining cooperation with creditors remains vital to the economic recovery of the country.
As reported, in late April, 2019, the NBU has confirmed the forecast of GDP growth for the 2019-2021. According to the expectations of the Central Bank, this year it will slow to 2.5% in 2020-2021. accelerated respectively to 2.9% and 3.7%.