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Ukraines economy likely to contract 3.5% on year in 2020, Alfa Bank says
Journal Staff Report

KYIV, Aug 27 - Alfa-Bank (Kyiv) has downgraded the forecast for the fall in the real gross domestic product of Ukraine (GDP) in 2020 to 3.5% from 2% (in the April forecast) and expects a further deterioration in 2021 at the level of 3.9%.

According to the macro forecast published on the bank's website, consumer demand will become a key driver of economic recovery in the coming quarters and, according to the bank, by mid-2021 it will recover to the "pre-quarantine" level.




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