Page 18 - UKRRptApr21

3.2 Macro outlook
Deputy Head of the Office of the President of Ukraine Yulia Svyrydenko expects GDP growth by 5.1% in 2021.
"In 2021, our expectations are a GDP growth of 5.1%," Svyrydenko told journalists on the sidelines of the Ukraine 30 Small and Medium Business and The State Forum in March. She added that in order to achieve such growth, appropriate monetary, fiscal and business support measures must be implemented. "We need at least $3 billion of foreign investment per year for annual growth of 1-2% of GDP," she said.
The World Bank has raised its projection for Ukraine's gross domestic product (GDP) growth in 2021 to 3.8%, while early January it estimated the prospects for recovery at 3%. According to the World Bank's Europe and Central Asia Economic Update, Spring 2021: Data, Digitalization, and Governance, the forecast for GDP growth in 2022 has been worsened to 3%, compared to 3.1% in January. The World Bank said that only a partial recovery in GDP growth of 3.8% is expected in 2021, given high uncertainty regarding the rollout of the vaccine and the slow pace of structural reforms to address bottlenecks to investment and to safeguard macroeconomic sustainability. The GDP growth projection of 3.8% is also underpinned by positive base effects in agriculture and processing industry, the World Bank said.
The Ukrainian economy will expand 4.4% in 2021 according to the latest results of a Bloomberg News survey of 13 economists conducted from March 19 to March 24.
* GDP 2022 +3.8% y/y vs prior +3.6%
* CPI 2021 +6.9% y/y vs prior +5.6% * CPI 2022 +5.6% y/y vs prior +5.6%
18 UKRAINE Country Report April 2021 www.intellinews.com