17:22 14.11.2019

Growth of Ukraine's GDP slows down to 4.2% in Q3, 2019 – statistics

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Growth of Ukraine's GDP slows down to 4.2% in Q3, 2019 – statistics

The growth of Ukraine's gross domestic product (GDP) in July-September 2019 amounted to 4.2% compared to the same period in 2018, while in the second quarter the growth rate was higher and amounted to 4.6%, in the first quarter it amounted to 2.5%.

Such an assessment was released by the State Statistics Service.

The agency said that in relation to the previous quarter, the real GDP of the country in the third quarter of this year (taking into account the seasonal factor) increased by 0.7%.

As reported, in October 2019 the National Bank of Ukraine improved the forecast for GDP growth in Ukraine for 2019-2021: the estimate of real economic growth in the current year was increased from 3% to 3.5%, next year from 3.2% to 3.5%, and in 2021 from 3.7% to 4%.

The updated macroeconomic forecast of the Ministry of Economic Development also improved the assessment of growth of the Ukrainian economy in 2019 from 2.8% stipulated in the May macro forecast to 3.5% (October 2019).

According to the ministry's website, the conservative economic development scenario provides for a 3.7% increase in real GDP in 2020 instead of the previously projected 3.3%, but the estimate of economic growth in the next two years has not changed: in 2021 economic growth is expected to reach 3.8%, in 2022 some 4.1%.

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