REUTERS
According to the updated forecast, the inflation rate will increase to 11.6% from 8.7%.
Ukraine's Cabinet of Ministers has revised downwards its outlook for inflation, wages, and GDP.
"Changes shall be introduced into Cabinet resolution No. 555 dated May 15, 2019, on approval of the forecast of economic and social development of Ukraine for 2020-2022," according to Cabinet decree No. 253 of March 29.
According to the updated outlook, the inflation rate may increase to 11.6% from 8.7%, and Ukraine's GDP in annual terms may fall by 4.8% from the previously estimated 3.9%.
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In addition, the forecast for the average wage decreased from UAH 11,000 (US$399), to UAH 10,706 (US$388).
The unemployment rate remained unchanged at 9.4%.
As UNIAN reported earlier, on March 29, the Cabinet of Ministers approved an updated macroeconomic forecast stipulating that the average annual rate of the national currency in 2020 will amount to UAH 29.5 per U.S. dollar.