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Ukrainian Minister of Economic Development and Trade Aivaras Abromavicius says that the most important achievement of the Ukrainian government over the past year is macroeconomic stabilization in the country, which is expected to translate into real GDP growth in the fourth quarter.
"Macroeconomic stabilization has been the government's greatest achievement in the past year," Abromavicius said at the CFA Society Ukraine Forum in Kyiv on Friday.
The minister also pointed to the increased balance in the accounts of the State Treasury, the stabilization of inflation and the forex rate, as well as the economic recovery in general.
"We expect [real] GDP growth in Ukraine in the fourth quarter this year," the minister added.
A forecast for next year's 2% GDP growth projected by international financial institutions is quite achievable, according to Abromavicius.
The minister noted the economic development in the country is based on three pillars – deregulation, privatization and the fight against corruption.
The minister reminded about the plans of the Ukrainian government to enter the top 50 of the Doing Business rating, for which Ukraine has already implemented half of the 212-point deregulation plan.
Regarding the privatization process, the minister assured that it would be open and transparent.
The fight against corruption cannot be achieved without getting rid of corrupt officials, the minister noted. According to Abromavicius, the ministry has already dismissed 35% of its staff and plans to fire 20% more by the end of the year.
"2015 was a year of macroeconomic stabilization, and the year of 2016 will be a year of economic growth. The government and the central bank are ready to face the challenges," the minister summed up.
As UNIAN reported earlier, on November 5, the European Bank for Reconstruction and Development downgraded its outlook for the fall of the Ukrainian economy in 2015 to 11.5%, from the earlier projected 9%. The GDP is expected to grow by 2% in 2016, according to the Bank.
The National Bank of Ukraine sees Ukraine's GDP grow by 1% in the third quarter of 2015 compared to the second quarter – the assessment which is in line with that of the World Bank, one of Ukraine's major creditors.
The State Statistics Service reported the GDP decline slowed down to 14.6% in the second quarter of 2015 in annual terms, compared to the previous quarter, taking into account the seasonal factor.