Retail sector is driving Ukraine's economic growth – media

22:24, 03 August 2019
Economy
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According to Konstatin Oleinik, UTC's head of strategic consulting, the retail vacancy rate in Ukraine is set to grow above the current 5.5 per cent, with outdated shopping centers expected to close as several malls are modernized, as reported by Emerging Europe.

Read alsoUkraine's economic growth accelerates to 3% in Q2

On July 31, the Ukrainian press reported that Dragon Capital, a Ukrainian financial services and investment group, had purchased the Smart Plaza Obolon and now owns five shopping malls in the country.

Earlier this week, the State Statistics Service of Ukraine announced that retail trade had grown by 10 per cent in real terms during the first half of 2019 compared with the corresponding period of 2018, adding that consumer confidence has also been increasing since the presidential election.

"The retail boom is being fueled by fast growth in personal income (…) We expect retail to increase 8-9 per cent year-on-year in 2019," said Evgeniya Akhtyrko, an analyst of Ukrainian investment company Concorde Capital.

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