Mykhailo Kukhar, a well-known economist and MIM-Kyiv graduate discussed 2021 forecasts for Ukraine.

There is good news: we are at the beginning of the 8-year long growth cycle.

“I always say that you’d better have cash in a crisis and get rid of it when the economy is growing. Whatever you buy at the beginning of the growth cycle will be at least 10% – 20% more expensive in 2 or 3 years,” Mykhailo explained. 

In his opinion “It is better to invest in your own business. If you have an idea of how to create added value and jobs, it might give you up to 100% of the return. If we are talking about passive strategies, my top list features land as #1, real estate #2, and shortly maturing treasury bonds denominated in hryvnias #3.”

“This year we are going to have a positive balance of international payments. It means that in 2021, the exchange rate will be in UAH 26,5 – 27,5 per US dollar,” Mykhailo shared his forecast. 

Mykhailo thinks that “Zero tax return is a good thing. We all need to switch to the mass declaration because people do not understand how much tax they pay. They may re-think taxation after that.”