Ukraine’s GDP will grow by 4.2% in 2021 — Concorde Capital

Annual inflation will grow to 7.2%

Investment company Concorde Capital projects a 4.2% growth in Ukraine’s GDP in 2021, following a 4.1% drop in 2020. Meanwhile, inflation will increase to 7.2%, according to Interfax-Ukraine.

In 2021, industrial production in Ukraine will grow by 6.5%, following its shrinking by 5.2% in 2020.

“In December, foreign trade volume overshot the mark of 2019, and exports of commodities reached their 6-year maximum on the background of the favorable pricing environment”, reads the statement.

Analysts also expect that the National Bank may raise the interest rate up from current 6% as soon as in March.

As GMK Center reported, this year, the Ministry of Economy expects a 4.8% growth in Ukraine’s GDP, and catching-up industrial growth may even climb above the mark of 5%.