16:36 23.05.2016

Economic Ministry expects acceleration of economic growth in 2017 to at least 4%

2 min read
Economic Ministry expects acceleration of economic growth in 2017 to at least 4%

A slight growth of Ukraine's economy in 2016 amidst a sharp fall of inflation next year will change and accelerate to at least 4%, First Deputy Minister of Economic Development and Trade Yulia Kovaliv has said.

"We expect Ukraine's economy to grow by at least 4% in 2017," she said at a session of the Kyiv International Economic Forum "Ukraine-China: New Silk Road" in Kyiv.

Kovaliv noted along with a slight rise in economy a three-fold fall in inflation is expected in the current year.

In her view, the key driver of the Ukrainian economy will be investment, especially private.

As reported, the State Statistics Service in the first quarter of 2016 for the first time since the end of 2013 recorded a growth of Ukraine's GDP in relation to the same period last year: but it was a mere 0.1%.

The fall of the Ukrainian economy in 2015 accelerated from 6.6% a year ago to 9.9%, although the rate of decline "quarter compared to the same quarter of the previous year" was steadily falling: in the first quarter the figure stood at 17%, in the second quarter at 14.7%, in the third quarter at 7.2%, and in the fourth quarter 1.4%.

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