Ukraine’s economy began to grow faster – gosstat

The growth of gross domestic product (GDP) of Ukraine in the fourth quarter of 2016, compared to the same period of the previous year accelerated to 4,5 – 4,8% compared with 2% in the third quarter, such preliminary assessment was announced by the head of the State statistics service Igor Werner.

“Already now it is possible, on the basis of different industries, to talk about the acceleration of GDP growth in the fourth quarter: the estimated GDP growth compared to the fourth quarter of 2015 may range from 4.5% to 4.8%,” said Werner.

Werner said that the statistical office will publish preliminary GDP estimate for the fourth quarter of 2016 next week.

As reported in December, the state statistics service has improved the estimate of GDP growth in the third quarter of 2016 from 1.8% to 2%, whereas in the second quarter of this year the figure was 1.4%, and the former is only 0.1%.

The national Bank in January has improved the assessment of growth of Ukraine’s GDP in 2016 from 1.1% to 1.8% and raised the Outlook for 2017 to 2.8% from 2.5%.

Ukraine’s GDP in 2015 fell by 9.9% after declining 6.6% in 2014, although the pace of decline “quarter to the same quarter of the previous year” has steadily declined in the first quarter – 17%, in the second and 14.7%, the third 7.2%, the fourth – 1,4%.