Economy ministry revises downwards Ukraine's GDP forecast for 2016 to 2%

18:21, 12.05.2016 1 min read

First Deputy Prime Minister and Economic Development and Trade Minister Stepan Kubiv has predicted that Ukraine's economic growth in 2016 would be 2%, the press service of the ministry said on Thursday.

Earlier this year, before the reshuffling of the government, the Economic Development and Trade Ministry revised downwards GDP forecast for 2016 from 2% to 1%. Former Finance Minister Natalia Jaresko said early March that GDP forecast is revised to 1%.

The European Bank for Reconstruction and Development (EBRD) this week confirmed 2% growth and projects the same rate in 2017.

The International Monetary Fund in April retains its forecast for Ukraine's economic growth in 2016 at 1.5%, expecting its acceleration to 2.5% in 2017.

The National Bank of Ukraine (NBU) retains its forecast for real GDP growth by 1.1% in 2016 and 3% in 2017.