Ukraine ends 2021 with the highest dollar GDP in its history, the Minister of Economy says
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The Minister of Economy Yulia Svirydenko stated that Ukraine would end 2021 with the highest dollar GDP in its history (approximately 195 billion).
She announced this on Facebook.
"Next year we plan to reach a high growth rate of gross domestic product due to the launch of several programs. In particular, large-scale thermal modernization of residential buildings, comprehensive restoration of irrigation systems in southern Ukraine, mass cheap mortgage lending, active financing of exporters," said Svirydenko.
The publication also states that she, together with the Minister of Defense and the Minister of Foreign Affairs, held an online meeting with representatives of the largest international investment companies and funds that invest in Ukraine.
"We have informed investors about the gradual improvement of our macroeconomic indicators and forecasts for the coming year. Our goal is to ensure the sustainability of key indicators: GDP growth, increase gold and foreign exchange reserves, contain inflation within acceptable limits. We strive to bring the business climate in Ukraine to the best world standards," said the head of the Ministry of Economy.
In turn, Oleksii Reznikov said that the situation in Donbas was quite stable, and Dmytro Kuleba assured investors that negative information messages from Russia were intended solely to destabilize the situation around Ukraine.
Note
J.P. Morgan Bank sharply downgraded Ukraine's real GDP growth forecast for 2021 from 4.5% to 2.3%, while maintaining the forecast for growth in 2022 by 5%.
Bank of America has downgraded the forecast for Ukraine's economic growth in 2021 from 4.5% to 3%, which could lead to non-payment of GDP warrants in 2023 and increase the likelihood of redemption of coupons by the Ministry of Finance.
The European Bank for Reconstruction and Development has maintained its forecast for Ukraine's economic growth in 2021 at 3.5% and also forecasts the same GDP growth rate in 2022.
In its June forecast, the EBRD also expected Ukraine's economy to grow by 3.5% in 2021-2022.
At the same time, the National Bank of Ukraine downgraded its forecast for economic growth from 3.8%, as expected this summer to 3.1%.
In the second quarter of 2021, Ukraine's GDP grew by 5.4% compared to the corresponding period of 2020.
In the third quarter of 2021, Ukraine's real gross domestic product (GDP) slowed to 2.4% year on year.
