REUTERS
The Ukrainian Ministry of Economic Development and Trade forecasts that Ukraine's economy will grow by 1% in the first half of 2016, after a 10% decline in 2015, according to the ministry's data published on its website.
"The economic activity is expected to invigorate in the first half of 2016 thanks to the recovery of companies in the country's east, an increase in salaries, a decline in companies' losses due to reduced single social security tax," the ministry noted.
"At the same time, falling prices on key commodity markets and restrictions in trade with Russia will continue affecting the situation," it said.
The ministry also confirmed the data of the State Statistics Service, which reported a 1.5% increase in GDP in Ukraine in the fourth quarter compared to the previous quarter.
The ministry says that the indicator was even better than in EU countries in the last quarter of 2015.
The improved situation in all the sectors of the Ukrainian economy, mainly in construction and transport became a growth factor in the fourth quarter. Budget financing and an increase in gas transit shipments also gave a boost to the economy.