Ukraine's GDP grows by 3.8% in Q2 – PM Groysman

Ukrainian Prime Minister Volodymyr Groysman says the country's gross domestic product (GDP) grew by 3.8% in the second quarter of 2018 (Q2) against the forecast projected at 3%.

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"In the second quarter [of 2018], GDP increased by 3.8% against the 3% forecast, which means that we will produce goods and services by UAH 1 trillion (US$35.5 billion) more in nominal terms over the 2017/2018 period," he said at a government meeting on Wednesday, October 24.

The prime minister added that the national budget's revenue in the nine months of 2018 totaled UAH 674.8 billion ($24 billion), which was UAH 89 billion ($3.2 billion) up year-over-year. The local budgets' revenue, excluding transfers from the national budget, was estimated at UAH 188.3 billion ($6.7 billion), while the transfers amounted to UAH 225.8 billion ($8 billion).

As UNIAN reported earlier, the National Bank forecasts a 3.4% increase in Ukraine's GDP in 2018 amid 8.9% inflation.

The Ukrainian government expects economic growth at 3.2% in 2018 amid 9.9% inflation.

The International Monetary Fund (IMF) has improved the forecast of Ukraine's economic growth in 2018 from 3.2% to 3.5% compared with its April outlook.

At the same time, the IMF downgraded the forecast of the country's economic growth in 2019 to 2.7% from 3.3% it projected earlier.