Homepage  Homepage     Search on site  Search on site     To write the letter  To write the letter     Site map  Site map
Agro Perspectiva
We are on: 
   

Photoblog

 


Home > News

Forecast for Ukraine's GDP fall by 4.8% in 2020 maintained Economy minister

22.05.2020 18:25 "Agro Perspectiva" (Kyiv) There are no grounds for changing the forecast for the decline in Ukraine’s real gross domestic product (GDP) in 2020 by 4.8%, there are discrepancies with the National Bank of Ukraine (NBU) regarding the forecast for the hryvnia exchange rate and inflation, Minister of Economic Development, Trade and Agriculture Ihor Petrashko has said.

«At present, we are not updating the macro forecast. Now we believe that our calculations have the right to come true. The most important thing is the volume of GDP and employment. In general, for now we see that we are moving in our fairway,» he told reporters in Kyiv.

Petrashko recalled the current practice of updating macro forecasts twice a year: since any change entails budgetary changes, and frequent updates to macro forecasts are inappropriate.

«So far, we do not think that macro forecasts will be different. So, we think that there will be some nuances — differences regarding inflation and the hryvnia exchange rate. And these are not small, but important topics that we are monitoring,» the minister said.

He explained that the hryvnia exchange rate has recently strengthened and is now quite far from the benchmark defined in the state budget: UAH 26.7/$1 against UAH 29.5/$1.

Regarding inflation, Petrashko emphasized once again that, in his opinion, 11.6% of the government forecast did not pose a threat to macroeconomic stability, but would allow for a faster economic recovery. According to him, the National Bank by its excessively tight monetary policy to the detriment of the economy limits inflation and forecasts by the end of the year at 6%.

The minister noted that if an error with the forecast of inflation or the exchange rate is obvious, then it will be necessary to take compensatory measures for the budget.

«-»

Agro Perspectiva

< New Zealand. Apple production expected to reach a record level of 593,000 metric tons All news for
22.05.2020
EBRD provides EUR3 million loan to Ukrainian cereal producer >

13.07.2020  
09:00 Philippine Imports of Milling Wheat Surge While Duties Implemented on Turkish Flour
10.07.2020  
17:15 BASF Group: operating result in the second quarter of 2020 above market expectations
13:25 In the 2019/2020 port NIKA-TERA handled 6.4 million tons of agricultural cargo
10:00 FAO and Rabobank's new partnership focuses on helping make food systems more sustainable, including through innovative investments
09.07.2020  
18:25 Director-General proposes new structure to make FAO agile and efficient
17:40 FAO welcomes additional 15 million from the European Union to fight Desert Locusts and their impacts on food security
17:25 Economy ministry estimates Ukraine's GDP fall at 5.9% in Jan-May
08.07.2020  
13:15 Economy ministry signs memo with grain market players for agreeing on export volumes, not for limiting exports minister
07.07.2020  
22:40 Refinancing rate could fall lower than inflation rate economy minister
12:10 BASF invests in next-generation farming for livestock producers with Cloudfarms digital platform solution
06.07.2020  
17:30 Rada with 286 votes backs resignation of NBU governor Smolii
16:45 Rada with 226 votes dismisses head of Antimonopoly Committee Yuriy Terentyev
11:30 Burger King, Cargill and World Wildlife Fund work to mitigate effects of climate change with new grassland restoration project
03.07.2020  
14:10 Record global cereal production to boost stocks
13:45 Global food commodity prices rebound in June
13:30 EBRD providing 7 million to Grain Alliance group
02.07.2020  
23:40 More Alcohol at Wholesale Prices for British Columbia Restaurants and Bars
22:45 Burger King, Cargill and World Wildlife Fund work to mitigate effects of climate change with new grassland restoration project
01.07.2020  
11:30 European Investment Bank provides a 200 million loan to KWS SAAT
30.06.2020  
14:00 World Bank approves $350 mln loan to support reforms for economic recovery in Ukraine
13:45 Japan Recognizes US HACCP System for Meat and Poultry
26.06.2020  
21:00 Thailand. Rice export prices remain high
20:00 Food Portion of the New Saudi Higher Import Tariffs Concentrates on Dairy Products
25.06.2020  
16:45 World coffee production for 2020/21 is forecast 9.1 million bags (60 kg) higher than the previous year to a record 176.1 million
16:00 Cargill launches first chocolate manufacturing operation in Asia, with growth plans across region
12:50 Bayer announces agreements to resolve major legacy Monsanto litigation
24.06.2020  
21:05 Decline of industrial production in Ukraine slows to 12.2% in May statistics
10:51 Ukraines parliament passes EBRD-supported derivatives law
23.06.2020  
15:59 EBRD and EU update tourism roadmap for Ukraine
11:12 Statistics Service improves assessment of Ukraine's GDP fall in Q1 2020 from 1.5% to 1.3%
09:15 IFC will issue $35 mln loan to Galnaftogaz
18.06.2020  
10:50 Cargill strengthens gourmet chocolate offerings with 3.5 million-euro investment
17.06.2020  
12:35 Ukraine's Economy ministry predicts grain harvest of over 68 mln tonnes in 2020
12:15 EU wheat production in 2020/2021 is projected down by 13.8 million tons
13.06.2020  
13:30 Rice Prices Remain High on Constrained Supplies and Robust Demand
11.06.2020  
13:00 Canada. Chicken Meat Production Falls on Reduced Demand
12:01 BASF Quarterly Statement Q1 2020. Sales of 16.8 billion
09.06.2020  
21:00 Capital investment in Ukraine decreases by 35.5% in Q1 2020 statistics
20:45 Inflation in Ukraine slows to 0.1% in May, to 1.7% y-o-y
16:30 Wheat and barley malt syrup added to Cargills label-friendly sweetener options for European food manufacturers
05.06.2020  
17:20 McDonald's to open five restaurants in Ukraine in 2020, to accelerate network development in 2021
16:30 Ukraine's intl reserves 1.3% down in May, to $25.372 bln
04.06.2020  
12:50 FAO Food Price Index falls to 17-month low
12:20 FAO Director-General appeals to donors to scale up response and ease plight of farmers and fishers in Yemen
11:25 Väderstad continues to invest in the manufacture of genuine parts
02.06.2020  
12:15 Ukraine ready to discuss expansion of range of food export to Japan Economy minister
11:11 MHP SE. Unaudited Financial Results for the First Quarter ended 31 March 2020
29.05.2020  
15:00 Brazil. Sugar production is estimated at 39,5 MT in 2020/2021
27.05.2020  
20:20 Govt backs separation of ecology ministry from Energy and Environmental Protection Ministry
26.05.2020  
10:22 EBRD provides EUR3 million loan to Ukrainian cereal producer

Also available: 

Agrarian Week in digital



READ ON-LINE




NewsNews - News - News - News - News - News
BriefWeekly Reports - Free article
SubscriptionTariff - News&Reports
AdvertisingMagazine - Site
ConferencesForum AGRO-2013 - DAIRY WORLD-2008 - FERTILIZERS-2010
Statistics
For our clientsAgroNewsDaily - Ukrainian Grain&Oilseed Market - Fertilizers - Milk Monthly - Milk Weekly
About usAbout project - Contact
2002 -2020 © Agrarika, ltd.
tel.: +38 (044) 486-9171, 486-8119
fax: +38 (044) 486-8830, 494-4889
e-mail: info@agroperspectiva.com