The country's GDP in 2021 is expected to grow by 4.6%.
Ukraine's Cabinet of Ministers on July 29, 2020, approved updated macroeconomic forecasts for 2021-2023.
In particular, Ukraine's Ministry for Development of Economy, Trade and Agriculture predicts an increase in the country's gross domestic product (GDP) by 4.6% in 2021, by 4.3% in 2022, and by 4.7% in 2023.
Inflation
The forecast indicates that inflation in December 2021 will be 7.3%. The inflation rate in 2021 on the average is projected at 8.1%. The inflation rate in December 2022 will be 6.2%. On the average in 2022, inflation is projected at 6.7%.
Read alsoInflation in Ukraine accelerates to 2.4% in June
The inflation rate in December 2023 will be 5.3%. On the average in 2023, the inflation rate is projected at 6%.
Salaries and wages
The average monthly wages in Ukraine in 2021 should be UAH 13,632 (nearly US$492); it will be UAH 15,414 (US$557) in 2022 and UAH 17,169 (US$620) in 2023.
Unemployment
The unemployment rate for the population aged 15 to 70 is projected at 9.2% in 2021, 8.5% in 2022 and 8% in 2023.
Foreign trade
Exports of Ukrainian goods are projected at US$60.175 billion in 2021, at US$64.018 billion in 2022, and US$69.284 billion in 2023.
At the same time, imports in 2021, 2022 and 2023 will amount to US$70.591 billion, US$77.661 billion, and US$86.28 billion.
Accordingly, the country's trade deficit will amount to US$10.416 billion in 2021, US$13.643 billion in 2022, and US$16.996 billion in 2023.
Milestones