S&P: Ukraine’s GDP will increase by 4% in 2021
S&P predicts Ukraine’s economy will grow 4% in 2021, bouncing back from a COVID-19 induced recession of 4% in 2020.Photo by Yelyzaveta Serhiienko/ Press office NBU
S&P Global Ratings, a U.S. credit rating agency, is expecting Ukraine’s economy to bounce back in 2021.
“We project real gross domestic product (GDP) growth in Ukraine of 4% in 2021, compared with a 4.2% contraction in 2020, following a gradual stabilization of the public health situation and a recovery in demand,” S&P’s March 13 statement reads.
In 2022, Ukraine’s economy is expected to grow by 3.5%.
S&P has also maintained Ukraine’s B/B rating with a stable outlook.
The agency’s report has maintained a positive viewpoint on Ukraine.
S&P predicts that Ukraine will receive a $700 million loan from the International Monetary Fund in 2021. The agency also points out the strong U.S. support for reforms in Ukraine.
“We view the recently imposed sanctions by the administration of President Joe Biden against oligarch Ihor Kolomoisky as a decisive renewal of Western support for President Volodymyr Zelensky’s reform program,” the S&P statement reads.
U.S. Secretary of State Antony Blinken called out billionaire Kolomoisky on March 5, accusing him of “involvement in significant corruption.”
Blinken made the public designation as the U.S. imposed a ban making Kolomoisky and his immediate family ineligible to travel in the United States.
(C)KYIV POST 2021