Economy ministry assesses Ukraine's GDP growth at 2% in 2016

14:06, 03.02.2017 1 min read

Ukraine's GDP growth in 2016 was around 2%, the Economic Development and Trade Ministry reported on Friday.

"The Ukrainian economy in 2016 showed signs of gradual overcoming negative consequences of long crisis, strengthening of macroeconomic stability and restoring economic growth," the ministry said.

Consolidated Production Index last year grew by 4.1% after a decline by 6.1% in 2015.

The ministry said that in contrast to the previous year the sources of growth were mainly internal factors – investment and consumer demand, while the situation on the foreign markets improved only at the end of the year.

"It is projected that in 2017 the positive signs would strengthen. Medium growth of Consolidated Production Index is expected in Q1 2017," the ministry said.

The ministry anticipates that the key growth factors will be the increase of minimum wage and improvement of the situation on the foreign markets.