IMF Raises GDP Growth

IMF Raises GDP Growth
🔵 The IMF has raised its Ukraine GDP growth to 4% this year, up from its forecast of 3% made six months ago. World GDP is to increase by 6% this year, “reflecting additional fiscal support in a few large economies and the anticipated vaccine-powered recovery in the second half of the year,” the IMF wrote in its April World Economic Outlook Review. Last week, the World Bank raised its growth forecast for Ukraine this year to 3.8%. A Bloomberg survey of 13 economists has predicted a rate of growth of 4.4%. Ukraine’s Economy Ministry has forecast a 4.6% rate of growth.
🔵 Last year, Ukraine weathered the Covid recession comparatively well. According to figures compiled by Alfa-Bank Ukraine, the GDP drops for 2020 were: Poland – 2.8%; US – 3.5%; Ukraine – 4.1%; Germany – 5%; Czech – 5.6%; EU – 6.4%; France – 8.3%; Italy – 8.8%; and Spain – 11%.
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