Ukraine Economic Outlook
November 3, 2020Sequential data hints at a fragile recovery in Q3, after the Covid-19 outbreak and associated lockdown measures pummeled activity in Q2. Industrial output continued to shrink in September, although at a softer pace than in August thanks to less downbeat manufacturing and energy production. More positively, retail sales growth was robust in Q3, which, coupled with steadily firming, albeit still weak, consumer sentiment, bodes well for household spending. That said, the persistent rise in Covid-19 cases, which picked up notably in October, prompted the government to extend the adaptive quarantine system until year-end—raising the possibility of tightening restrictions and thus potentially hampering the recovery in Q4. In politics, the 25 October local elections dealt a setback to President Zelensky given the weak results for his party and declining approval ratings.
Ukraine Economic GrowthA sharp economic downturn is expected this year due to the Covid-19 blow. Activity is poised to bounce back solidly next year, however, as both external and domestic demand gradually revive, with fiscal and monetary stimulus lending further support. The prolongation of the health crisis, loss of reform momentum and weaknesses in the banking system cloud the outlook. FocusEconomics panelists see GDP growing 4.2% in 2021, which is unchanged from last month’s forecast. For 2022, they see GDP expanding 3.6%.
Ukraine Economy Data
5 years of Ukraine economic forecasts for more than 30 economic indicators.
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|Bond Yield||19.00||0.0 %||Jul 27|
|Exchange Rate||23.70||0.30 %||Jan 01|
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Ukraine Economic News
May 7, 2021
Consumer prices rose 0.70% from the previous month in April, which was below March's 1.70% increase.
April 27, 2021
Industrial production rose 2.1% year-on-year in March, contrasting February’s 4.6% drop.
April 15, 2021
At its 15 April meeting, the National Bank of Ukraine (NBU) decided to hike the key policy rate by 100 basis points to 7.50% from 6.50%.
April 9, 2021
Consumer prices rose 1.70% over the previous month in March, picking up pace from the 0.99% increase logged in February.
March 26, 2021
Industrial production declined 4.6% year-on-year in February, dropping at a sharper rate than January’s 4.0%, and logging the worst contraction in eight months.