14:34 23.08.2016

Experts improve Ukraine's GDP growth forecast for 2017 from 2.5% to 2.9%

Experts improve Ukraine's GDP growth forecast for 2017 from 2.5% to 2.9%

Ukraine's GDP growth in 2017 is expected to be 2.9% with inflation 9% (December on December), according to a consensus forecast published by the Ukrainian Economic Development and Trade Ministry.

Experts anticipate that this year the country's GDP will grow by 1% with 13.1% inflation.

The ministry said four months ago the economy restoration assessments were more optimistic: 1.1% with inflation 13.5%.

As for 2017, in April experts expected a slower growth of the economy – 2.5% with the same inflation of 9%.

The hryvnia exchange rate forecast for late 2016 is improved to UAH 27/$1 from UAH 28/$1 projected in April 2016, while for 2017 – it was revised upwards from 28.50/$1 to UAH 28.90/$1.

The consensus forecast is based on the materials provided by experts from 16 various organizations and companies, particularly, the Ministry of Economic Development and Trade, the National Bank of Ukraine (NBU), the Institute for Economics and Forecasting of the National Academy of Science of Ukraine, the Institute for Economic Research and Policy Consulting, the International Centre for Policy Studies (ICPS), Raiffeisen Bank Aval, Dragon Capital investment company and CASE Ukraine.

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