Annual inflation jumped to 10.2 percent in July, up from 9.5 percent in June this year and 5 percent in December last year.

The regulator’s decision was based on some key factors, including high inflation expectations, an unchanged inflation target of 10 percent.

The oil and gas sector is projected to grow 3.2 percent, while the non-oil sector will expand by 5.2 percent in 2021.

IFC, a member of the World Bank Group, signed a Memorandum of Understanding with Ukraine's Agrarian Policy Ministry that envisages joint work on sector reforms, including identifying the proper institutional approach to improve the irrigation and drainage systems.