KYIV, April 27 – Ukraine’s economy will expand 3.9% on the year in 2021 and 4.3% in 2022, up from an earlier forecast of 3.5% and 3.9%, respectively, according to a report by Deutsche Bank.

Ukraine’s economy contracted 4% on the year in 2020 due to coronavirus pandemic, and the economy continued to contract in the first quarter of 2021.

Deutsche Bank analysts also raised their estimates of inflation, current account and budget deficit. In particular, in their opinion, the average annual inflation will increase from 2.7% last year to 9% this year (the previous forecast was 6%), after which it will decrease to 5.8% in the next year (5.5%).