The growth of Ukraine’s GDP in 2017 is expected at 2.4% with an inflation rate (December to December) 11%. A consensus forecast from December last year, announced the Ministry of economic development and trade on Tuesday.
According to him, experts expect next year’s increase in GDP by 3.1% with an inflation rate of 8%.
The Ministry indicates that in the previous consensus forecast from August 2016 evaluation of the economic recovery and slowing inflation was more optimistic: experts expect in 2017, the GDP growth by 2.9% when inflation is 9%, and in 2018, the expected acceleration of GDP growth to 3.6%, with inflation slowing to 6%.
As reported, in 2016, the government estimates GDP growth of 2.2%, while inflation was, according to the state statistics service, is 12.4%. In the fourth quarter of 2016, compared to the same quarter of last year, growth accelerated to 4.7% from 2% in the third quarter, 1.4 percent in the second and 0.1% in the first.
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” in 2015, has steadily declined in the first quarter – 17%, in the second and 14.7%, the third 7.2%, the fourth – 1,4%.
The government has built a budget-2017 forecast GDP growth of 3% with an inflation rate of 8.1%, while the national Bank of Ukraine expects GDP growth of 2.8% with an inflation rate of 9.1%.
As previously calculated in the Ministry of Finance of Ukraine, at the end of 2016 the growth of Ukraine’s GDP amounted to 1.8%. According to Ministry of economy, growth of industrial production for the year was 2.4% for the first time since 2011.
