REUTERS
Strengthening of the hryvnia, Ukraine's national currency, was one of the causes behind the decline in the economic growth rate.
Ukraine's First Deputy Minister of Economic Development, Trade and Agriculture Pavlo Kukhta says an unfavorable situation on foreign markets is a major factor of a slowdown in Ukraine's economic growth in the fourth quarter of 2019 (Q4).
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"First of all, foreign markets are behind the slowdown. There is also an exchange rate factor, which affected [the GDP growth] as well. We have estimates related to the impact of each factor. I don't remember every detail, but internal factors influenced less," he said at an event, titled "Reforms Forum: On the Road to Vilnius" on February 25.
As UNIAN reported earlier, Ukraine's real GDP in Q4 2019 grew by 1.5% year-over-year (y-o-y), having slowed from 4.1% in Q3 2019 y-o-y.
There have been no reports yet on economic growth for 2019 as a whole.