13:20 26.09.2017

NBU allows revision of GDP growth forecast in 2017

NBU allows revision of GDP growth forecast in 2017

The National Bank of Ukraine (NBU) allows an improvement in the forecast for GDP growth in 2017 during the next revision of macro indicators at the end of October.

"We see that this year we somewhat conservatively assessed the impact of the blockade on GDP growth. Data for the second quarter and some figures for the third quarter show that the situation is better than we expected ... Therefore we see that by the end of 2017 the economy could grow more than we expected," Deputy Chairman of the NBU Dmytro Solohub said in a blitz interview with Interfax-Ukraine.

According to him, metallurgical enterprises quickly recovered after a break in trade and transport ties in the east of the country. This recovery is also supported by an active external demand.

In addition, the banker noted optimistic statistics in the agricultural sector.

"Although harvesting is lagging behind last year's results, our expectations were even worse, as weather conditions turned out to be unfavorable this year," Solohub said.

According to him, the new macroeconomic forecast will be presented in a short format at a monetary briefing on October 26. A week after the briefing, a new inflation report will be published, in which the new forecast will be presented in a broad format.

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