In the report, the IMF also expects the Ukrainian economy to grow by 3.6 percent in 2021, while indicating that consumer prices in Ukraine will increase by 4.5 percent this year, and by 7.2 percent next year.
Last month, Ukrainian Prime Minister Denys Shmyhal said that the macroeconomic forecast projected a contraction of 4.8 percent in its GDP year on year in 2020.
The Ukrainian economy sank into recession in 2014. Since 2016, however, it has shown positive signs of growth. The State Statistics Service reported earlier this month that the country's GDP grew by 3.2 percent last year.
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