An employee of steel mill Zaporizhstal supervises metal rolling in Zaporizhia on April 8, 2019. Ukraine will produce 7% less steel in 2020.
J.P. Morgan expects a 5.1% decline in Ukraine’s GDP in 2020. This decline aligns with predictions of the National Bank of Ukraine, which said it would be 5%. The state budget for 2020, in turn, predicts a 4.8% decrease. In 2021, however, Ukraine’s economy will grow by 6.3%, J.P. Morgan predicted.
The hryvnia will weaken to Hr 29.5 per $1 by September, J.P. Morgan said. In 2021, the exchange rate will be Hr 29 per $1. At the moment, the rate is Hr 26.8 per $1.
