KYIV, Nov 3 – Oxford Economics has worsened its expectations for real GDP growth in Ukraine to 3.5% in 2021 from 4% in the August forecast, as well as the forecast for economic growth in 2022 – to 3.4% from 3.5%.

We have downgraded our 2021 GDP growth forecast from 4% to 3.5% to reflect the fourth wave of COVID-19, which could slow the recovery in the fourth quarter. Ukraine registers about 20,000 new COVID cases per day – this is the highest rate since the start of the pandemic, Oxford Economics said in the forecast for October.