REUTERS
The main reason for a faster pace was a higher-than-expected growth in consumer demand.
The actual growth rate of the Ukrainian economy in the second quarter of 2019 by 4.6% in annual terms has exceeded the estimate of the National Bank published in the July inflation report.
According to the NBU statement, the regulator expected growth by 3%. The main reason for the faster pace was the higher-than-expected growth rate of consumer demand, the central bank says.
It is noted that in the context of types of activity, growth in agriculture expectedly accelerated due to the high yield.
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At the same time, the National Bank expects that the contribution of agriculture in the third quarter will be lower due to a decrease in the yield of oilseeds.
It is also reported that an updated macroeconomic forecast will be announced Oct 24.
As UNIAN reported earlier, the State Statistics Service of Ukraine confirmed the estimate of real GDP growth in Ukraine in the second quarter of 2019 in annual terms by 4.6%, published in August.
The state budget of Ukraine for 2019 is based on the Cabinet's macroeconomic forecast with real GDP growth set at 3%. In July, the National Bank raised its forecast for real GDP growth in 2019 to 3% from 2.5% projected previously.
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The International Monetary Fund and the World Bank forecast economic growth in Ukraine this year at 2.7%.
According to the consensus forecast of experts interviewed by UNIAN, in 2019 the growth of the Ukrainian economy will slow down to 2.8%.