Growth of Ukraine's GDP accelerates to 3.3% in 2018 – statistics

The real gross domestic product (GDP) of Ukraine in 2018 grew by 3.3% after raising by 2.5% in 2017 and by 2.4% in 2016, the State Statistics Service has stated.

Nominal GDP amounted to UAH 3.559 trillion, and UAH 84,190 per capita, the change in the deflator was 5.4%.

According to the report, the State Statistics Service has improved the estimate of GDP growth in the fourth quarter of 2018 from the fourth quarter of 2017 from 3.4% to 3.5%.

The estimates of the rate of growth of the Ukrainian economy in the two previous quarters remained unchanged: 2.8% in the third quarter, 3.8% in the second quarter, while the figure was raised from 3.1% to 3.3% in the first quarter.

The National Bank of Ukraine at the end of January 2019 deteriorated its estimate of Ukraine's GDP growth last year from 3.4% to 3.3%, estimating it in the fourth quarter at 3.3%. According to its expectations, this year the country's economy will increase by 2.5%, and in 2020 by 2.9%.

According to the consensus forecast compiled by the Ministry of Economic Development and Trade in December, Ukraine's GDP growth in 2018 was estimated at 3.1%, in 2019 at 2.9%.

The national budgets for 2018 and 2019 are built on the forecast of economic growth in these years by 3% annually.