Cabinet approves two scenarios for economy development in 2020

A conservative macro-forecast assumes GDP growth at 3.7%, while an optimistic one gives it 4.8%.

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The Cabinet of Ministers has approved an updated macroeconomic forecast prepared by the Ministry of Economic Development, Trade and Agriculture.

Speaking at a briefing following a government meeting on Wednesday, Prime Minister Oleksiy Honcharuk said the conservative version of macro-forecast assumed a gross domestic product growth of 3.7%, while an optimistic one said it would be 4.8%.

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"According to a conservative scenario, the Ministry of Economy essentially repeated the World Bank forecast," he said, adding that "according to an optimistic forecast, the Ministry of Economy sees economic growth at 4.8%."

The prime minister noted that the macro forecast approved in May of this year assumed a GDP growth in 2020 of 3.3%.

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