The decline of the gross domestic product (GDP) of Ukraine in January-March 2020 amounted to 1.3% compared to the same period of 2019, whereas under the pre-operational evaluation, published in mid-may, the figure was 1.5%.
According to statedata, GDP growth in the fourth quarter of 2019 amounted to 1.5%, in the third and 3.9% in the second – 4.7% in the first quarter and 2.9%.
As reported by the state statistics service, real GDP in January-March this year (taking into account the seasonal factor) decreased by 0.7% compared with the previous quarter, compared to the first quarter of 2019 – by 1.3%.
According to the state statistics service, nominal GDP in the first quarter of 2020 amounted to 845,8 billion, and per one person – UAH 20203, the change in the deflator is 5.1%
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As reported, the international monetary Fund (IMF) in its April world economic forecast downgraded the forecast of decline of Ukraine’s GDP in 2020 to 8.2% from 7.7%.
The release of the Fund in connection with the approval of 18-months. the program stand by for Ukraine for $5 billion, the forecast recovery of the Ukrainian economy in 2021 also deteriorated from 3.6% to 1.1% with an acceleration to 3% in 2022.
According to the new estimates, the current account deficit could rise from 1.7% of GDP in 2019 to 1.7% this year and 2% in the next and slightly decreased to 1.9% of GDP in 2022, while in April the IMF was expecting expansion of the deficit this year to 2% of GDP and next year to 2.4% of GDP.