REUTERS
Ukraine's GDP in January 2017 grew by 5.1%, whereas a year ago, in January 2016, there was a 1.6% decline, according to the Ukrainian Ministry of Economic Development and Trade.
"In general, GDP growth in January 2017 is estimated by the Economic Development and Trade Ministry at about 5.1%," the ministry said in its analytical report.
Read alsoExperts predict 2-3% GDP growth in Ukraine in 2017The positive trend was predetermined by two factors – last year's low comparison base and an increase in prices on global commodity markets against the backdrop of growth of investment demand.
"The industries oriented towards meeting investment demand (construction, machine-building, metallurgy, production of construction materials) accounted for about 60% of the growth of the consolidated production index," the ministry said.
Read alsoStatistics chief upbeat about GDP growth in Ukraine in Q4What is more, the ministry predicts further economic growth coupled with the slowdown of inflation in the first quarter of 2017, yet the pace of the growth will not be so high.
"More moderate dynamics of the growth is expected in the first quarter of 2017 if compared to January. It will be due to, firstly, a higher comparison base in February-March against January's. Secondly, the blocking of railways [in the east of Ukraine as part of the blockade of trade with occupied Donbas] will be more tangible in the short-term outlook. But, we expect the growth will continue," the report said.
As UNIAN reported, Ukraine's GDP grew by 2.2% in 2016 from 2015.