The International Monetary Fund (IMF) uses the average annual forex rate set at Hr 28.681 per U.S. dollar for 2019 and Hr 29.958 per U.S. dollar for 2020 when converting GDP in hryvnias to U.S. dollars in its updated April 2019 World Economic Outlook , which is almost the same as in the previous outlook issued last October.
Then the IMF projected the weakening of the hryvnia to Hr 28.655 per U.S. dollar in 2019, and to Hr 29.925 per U.S. dollar in 2020.
According to the IMF’s updated estimates, the Ukrainian currency may weaken to Hr 30.55 per U.S. dollar in 2021, to Hr 31.01 in 2022, to Hr 31.47 in 2023 and to Hr 31.94 in 2024.
During the period, Ukraine’s nominal GDP in U.S. dollars may rise from $134.89 billion in 2019 to $206.73 billion in 2024, IMF experts forecast.
According to the IMF, Ukraine’s dollar-estimated GDP reached $124.6 billion in 2018, compared with $112.13 billion in 2017, with a slight weakening of the hryvnia to Hr 27.19 per U.S. dollar from Hr 26.6 per U.S. dollar.
As reported, Ukraine’s national budget for 2019 is based on the forecast of the average annual hryvnia forex rate set at Hr 29.3 per U.S. dollar.
