The Cabinet has developed a new macroeconomic forecast in connection with the crisis

The Cabinet of Ministers has developed a new macroeconomic forecast in connection with the crisis caused by the pandemic coronavirus.

Кабмин разработал новый макроэкономический прогноз в связи с кризисом

This was announced by Prime Minister Denis Shmyhal in the Telegram.

So, the inflation forecast has deteriorated from 5.5% to 8.7%, the average annual hryvnia exchange rate – from 27 per dollar to 29.5 per dollar.

Nominal GDP is projected at 4 billion UAH, whereas previously it was estimated at 4.51 trillion UAH.

“The forecast of Ukraine’s GDP this year was revised — now expected to fall by 3.9% compared with growth of 3.7% that was predicted prior to the global crisis”, — stated in the message.

The forecast for the unemployment rate worsened from 8.1% to 9.4%, the average salary will drop from 12.5 to 11 thousand UAH thousand UAH, which is adjusted for inflation corresponds to a level of 2019.

“During the development of amendments to the state budget, the government of the updated macroeconomic forecast. At the Cabinet meeting approved the new figures. Experts of the Ministry of economy in the process of preparing a new forecast has held a number of consultations with experts of the Ministry of Finance, NBU, IMF, and independent analytical organizations”, — said Smigel.