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Ministry of Economic Development predicts Ukraine's economy shrink 3.5% for 2017
16:46, 25 May 2016
Ministry of Economic Development predicts Ukraine's economy shrink 3.5% for 2017

According to the forecasts, the growth of gross domestic product will decline by 0.5% (from 4%)

16:46, 25 May 2016

112 Agency

Ministry of Economic Development and Trade of Ukraine predicts gross domestic product (GDP) growth at 3.5% rather than 4% in 2017 as it has been previously stated. This was reported to journalists by Deputy Minister Yulia Kovaliv, said "Interfax-Ukraine".

"I want to clarify that 3.5% is our expectation of GDP growth for the next year", - she said.

Kovaliv added that GDP growth is expected due to the increase in the industrial production and consumption growth.

"There is a growing demand. We have increased social standards since May 1, and later they will be increased by another 10%, the taxation of pensions gas been abolished. In addition, we see the growth of industrial production by 3,7% in three months, which hasn’t happen within two years ", - she stated.

Related: Ukraine’s GDP rises by 0.1% compared to last year

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