J.P. Morgan has downgraded the forecast of real GDP growth in 2021 to 4.5%

from 5.6% in its April forecast.  It’s nevertheless more optimistic than Oxford Economics which, as reported by UBN yesterday, has just downgraded its similar forecast to 4% from 4.4%.  J.P. Morgan predicts average annual inflation in Ukraine at 9% in 2021 with a further decline to 7.3% in 2022 (Oxford Economics-  9.2% this year, and further declines to 6.7% and 5.4% in 2022 and 2023). It expects the balance of payments deficit in 2021 at 1.7% of GDP, next year – at 3.5% .

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