National Bank of Ukraine downgrades 2022 economic forecast | MENAFN.COM

Tuesday, 24 May 2022 03:47 GMT

National Bank of Ukraine downgrades 2022 economic forecast


(MENAFN) The National Bank reduced its economic development prediction for the current year from 3.8 percent to 3.4 percent, this information was mentioned during a Kyiv briefing by Chairman of the National Bank of Ukraine Kyrylo Shevchenko, reported an Ukrinform journalist.

Shevchenko announced, “We have revised the forecast for GDP growth in 2022 from 3.8 percent to 3.4 percent. The economy will be supported by consumer demand and trade conditions that will still be favorable. Instead, the potential of our economy will be limited by a tense geopolitical situation that will affect investment decisions, significant consequences of the coronacrisis, relatively high energy prices, and shortages of certain raw materials, especially in the first half of the year.”

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