PM Groysman says Ukraine's economy may grow by 5-7% in 2019

"We forecast economic growth at 3% ... But I'm sure this figure can be 5%-7% starting from 2019," the prime minister said at a meeting of the Regional Development Council in Kyiv on October 24.

According to him, the creation of a high-quality business climate and the regime of maximum promotion for investment will translate into rapid development and improvement in citizens' living standards.

Read alsoCabinet in talks with IMF on price of gas for households – GroysmanAs UNIAN reported earlier, Ukraine's Cabinet of Ministers reviewed the forecast of GDP growth in Ukraine in 2017 downwards to 1.8% from 3%. The country's GDP is expected to grow by 1.9% in 2017, by 3% in 2018, and by 4% in 2019, according to Ukraine's National Bank estimates.

The International Monetary Fund forecasts the country's GDP will grow by 2% in 2017, by 3.2% in 2018, and by 3.5% in 2019. The World Bank has retained a 2% economic growth forecast for Ukraine in 2017.