PM Groysman convinced Ukraine may achieve 5-7% economic growth in 2018

"I am absolutely convinced that a 3% growth is not something that is unachievable in 2018. We will be able to achieve a 5-7% economic growth," he told a Ukrainian TV channel.

Read alsoUkraine's First Vice PM Kubiv names main threat to economic growthAccording to the official, it is possible to achieve accelerated economic growth due to the right decisions to create an investment climate that will be conducive, among other things, to investment in the public sector of the economy, and to fiscally stimulate investment in business development.

As UNIAN reported, Groysman said earlier that Ukraine's economic growth in 2017 would reach 2% amid 11.2% inflation.

The government plans next year to offer businesses a grace period for up to two years for payment of VAT on imported equipment.

Ukrainian President Petro Poroshenko earlier announced the replacement of the corporate profit tax with a tax on withdrawn assets in 2018, which will only be applicable to funds withdrawn for consumption rather than on profit to be reinvested in production.