REUTERS
His ministry predicts 2020 inflation within the range from 5.5% to 5.8%.
The Ministry of Economic Development, Trade and Agriculture of Ukraine has developed two forecast scenarios for inflation for the next three years.
In 2020, it expects 5.5% by the baseline scenario and 5.8% by the optimistic one, says Minister of Economy Tymofiy Mylovanov.
In 2021, a 5.3% inflation is expected according to the baseline scenario and 5% - according to the optimistic one, he wrote on Facebook.
In 2022, the forecast says the inflation will be at 5.1% or 5%, respectively.
The minister explained that the optimistic scenario assumes $3 billion more in foreign investment, in which case inflation will be slightly higher in the first year due to increased activity, but lower in subsequent years due to higher output and added value in the economy.
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"In order to realize this scenario, we need to have a better business climate, no corruption in government and across the regions, a functioning judiciary, and reforms (including a liberal land market and privatization)," Mylovanov wrote.
As UNIAN reported earlier, inflation in Ukraine in September 2019 in annual terms amounted to 7.5%, slowing down from 8.8% a month earlier.
In 2018, inflation in Ukraine slowed to 9.8% from 13.7% a year earlier, becoming the lowest over the past five years.