Finance Ministry: Ukraine’s economic growth accelerating

Image: Reuters

Image: Reuters 

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Although the GOSSTAT, the state statistics organization, has not yet released even preliminary numbers for full-year 2016, the finance ministry made public their first estimates.

According to Deputy Finance Minister Oksana Markarov, the gross domestic product (GDP) of Ukraine in 2016 increased by 1.8%.

“1.8% growth last year and 3% growth we forecast for 2017,” – she told attendees at the seminar on the development of investment and export potential of the regions.

Oksana Markarov

Oksana Markarov

According to her, expected major drivers of economic growth in 2017 are “the inflow of investments and an increase in exports.”

Note that in the first half of 2016, Ukraine’s economy officially exited a long recession, which lasted from the second half of 2012.

Ukraine’s GDP grew by 0.1% in the first quarter of 2016, by 1.4% in the second, and by 2.0% in the third.

In June, the Cabinet of Ministers of Ukraine approved a budget for 2017, which forecasts GDP growth in Ukraine at 3% in 2017, and 4% in 2018 and 2019.


Translated by: A. N.

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