Third, increased competition in some global markets and greater trade restrictions imposed by Russia restrained the economic recovery. In addition, less favorable weather conditions in January–February weakened the performance of construction and transportation. The Ukrainian economy will return to steady growth starting in Q2. Consumer demand will remain the main growth driver.
Investment demand will also rise gradually as the global economy revives and more progress is made in overcoming the pandemic. 1/3  BIS central bankers' speeches  Factoring in losses to the economy caused by the tightening of quarantine restrictions, the NBU downgraded its GDP growth forecast for 2021 to 3.8%, down from 4.2%.