KYIV, June 15 – Moody's Investors Service has forecasted that Ukraine's economy would contract by 4.5% in 2020 and real GDP forecast would rise by around 3.6% in 2021.

"Moody's expects the economy – through restrictions on domestic activity, weaker external demand and lower remittances – to contract sharply this year, economic growth is expected to recover gradually from the second half of 2020, with real GDP forecast to rise by around 3.6% in 2021," Moody's said in its report on upgrading Ukraine's ratings to B3.