REUTERS
Under the first scenario, unemployment rate in Ukraine will gradually decrease: to 8.1% in 2020, to 8% in 2021, and to 7.9% in 2022, from 8.8% reported in 2018.
The Cabinet of Ministers of Ukraine has approved the country's main forecast macroeconomic and social development indicators for 2020-2022, according to which, Ukraine's trade balance deficit will increase from US$13.78 billion in 2020 to $14.92 billion in 2021 and to $16.11 billion in 2022.
That is according to Cabinet Resolution No. 555, promulgated on the government's website on July 4.
"This scenario is a continuation of the first forecast scenario, which is laid down in the 2019 national budget. It is based on the implementation of reforms in line with the priorities defined in the government's strategic documents, and aims to create favorable conditions for Ukraine to achieve sustainable economic growth and improve people's well-being. In line with this, the government will pay special attention to the effective implementation of innovation, investment, and social policies in 2020-2022," reads the document.
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The resolution also suggests the second scenario of the main macroeconomic indicators for the said period, where the trade balance deficit is expected to grow from $13.96 billion in 2020 to $15.6 billion in 2021 and to $17.25 billion in 2022.
The document says that under the first scenario, unemployment rate in Ukraine (according to the International Labor Organization's methodology) will gradually decrease: to 8.1% in 2020, to 8% in 2021, and to 7.9% in 2022, from 8.8% reported in 2018.
Under the second scenario, the unemployment rate in Ukraine will remain at 8.6-8.7% in 2020-2022.
According to the first scenario, GDP growth is predicted at 3.3% in 2020, at 3.8% in 2021, and at 4.1% in 2022. Consumer price growth (December to December of the previous year) is expected to reach 6% in 2020, 5.7% in 2021 and 5.3% in 2022.
Under to the second scenario, GDP growth is projected at 3.6% in 2020, 3.6% in 2021, and 3.3% in 2022, while the consumer price growth may be at 6.5% in 2020, 7.1% in 2021, and 7% in 2022.
As UNIAN reported earlier, the deficit of Ukraine's foreign trade balance in January-March 2018 amounted to US$134.9 million against a surplus of US$126.1 million for the same period last year.
The growth of Ukraine's real gross domestic product in 2018 accelerated to 3.3%, a seven-year high, from 2.5% in 2017, according to the State Statistics Service.
Ukraine's national budget for 2019 is based on a macroeconomic forecast with a 3% increase in real GDP.