Dragon Capital downgrades Ukraine’s GDP growth forecast for 2021 from 4.6% to 3.5%.
Dragon Capital’s CEO, Tomas Fiala, says this is due to unexpectedly worse than expected preliminary GDP data for the second quarter of this year. Surprisingly, wholesale trade fell to 5.7% in the first half of the year from 3.0% in the first quarter. In mid-July, the investment company had already lowered the forecast for the growth of the Ukrainian economy this year from 5.3% to 4.6%. Next year’s estimate of real GDP growth remains unchanged at 4.3%.