The International Monetary Fund (IMF) has worsened the outlook for Ukraine's economy in 2020.

In particular, the GDP will drop from 7.7% to 8.2% as was predicted in April, the IMF said in a press release on June 9, 2020.

According to the Fund, the Ukrainian GDP will start growing again in 2021. In particular, it will grow by 1.1% in 2021, and by 3% in 2022.

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The Fund also predicts a drop in domestic demand by 8.6% in 2020 with its growing by 2.7% in 2021, and by 4.3% in 2022.

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According to the IMF outlook, consumer prices in Ukraine will amount to 4.5% in 2020, 7.2% in 2021, and 5.6% in 2022.

In addition, the Fund predicts that unemployment rate will be 12.6% in 2020, 12% in 2021, and 11.5% in 2022.

As UNIAN reported earlier, the Executive Board of the International Monetary Fund on Tuesday approved an 18-month Stand-by Arrangement for Ukraine, with access equivalent to SDR 3.6 billion (about US$5 billion, or 179% of quota).