KYIV, April 23 – The National Bank of Ukraine (NBU) in its updated inflation statements released on its website has downgraded the estimate of the decline in Ukraine's gross domestic product (GDP) in the first quarter of 2021 to 1.5% from 0.1% in the January financial statements.

"Capital expenditures of the budget decreased at the beginning of the year. As a result, overall investment activity remained restrained. Due to a noticeable recovery in imports and a decrease in exports, a significant increase in the negative contribution of net exports to real GDP in the first quarter is expected," the National Bank said.