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%)
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.
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