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21 August 2017
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Ukraine Economy Ministry forecasts stable economic growth over next 3 yrs

The Ministry of Economic Development and Trade of Ukraine forecasts a stable growth of the Ukrainian economy over the next three years and says it will do its best to enhance it.

REUTERS
REUTERS

"Comparing with the last year, when our economy declined by almost 10%, this year we are expecting growth, a stable growth over the next three years," First Deputy Minister of Economic Development and Trade Yuliya Kovaliv said at a briefing in Kyiv.

The economic growth in Ukraine will be stimulated by the reforms in key economic sectors, according to Kovaliv.

NBU cuts key policy rate to 18%"The main task of the government is to boost this growth, to lay down the foundation for major changes in key economic sectors and to ensure macro-financial stability," Kovaliv said.

As UNIAN reported earlier, the total fall of Ukraine's GDP in 2015 accelerated from 6.8% to 9.9% as compared with the previous year (at constant 2010 prices), excluding the occupied Crimea and a part of the Anti-Terrorist Operation zone. Nominal GDP at current prices amounted to UAH 1.979 trillion, and UAH 46,201 ($1,824) per capita.

Ukraine needs comprehensive and rapid reforms – BalcerowiczThe International Monetary Fund, Ukraine's key creditor, has maintained its economic growth forecast for Ukraine in 2016 at 1.5% and inflation at 15.1%. The World Bank projects the Ukrainian economy will grow 1% and inflation will stay at 15%.

According to the expert consensus forecast compiled by UNIAN, Ukraine's economy will grow by 1% this year amid a 3% increase in industrial production and 19% inflation.

The Ministry of Economic Development and Trade predicts economic growth of Ukraine not less than 4% in 2017.

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