The growth of Ukraine’s gross domestic products (GDP) in 2017 amounted to 2.2%, compared to 2.3% observed in 2016. This preliminary estimate by the State Statistics Service of Ukraine was published by the Ministry of Economic Development and Trade on Twitter, Interfax-Ukraine reports.
“The positive factors include high consumer activity, intensive construction and the expansion of presence on the markets of member states of the European Union”, - the Ministry pointed out.
Earlier, the State Statistics Service published quarterly data on GDP growth, without specifying the annual figure.
The Ukrainian economy has been growing for eight straight quarters. Over 2016, the country’s GDP increased by 2.3%, following a 9.8% contraction over 2015 and a 6.6% fall over 2014. According to the data from the State Statistics Service of Ukraine, in 2017 the quarterly GDP growth (against the same quarter of the previous year) slowed down steadily: from 2.5% in the first quarter to 2.3% in the second quarter, 2.1% in the third quarter and 1.9% in the last quarter of the year.
In early February 2018, the National Bank of Ukraine estimated the country’s GDP growth in the fourth quarter of 2017 at 1.5%, while the overall GDP growth in 2017 – at 2.1%.
Earlier on, the National Bank raised its forecast on GDP growth for 2018 from 3.4% to 3.2%. At the same time, the central bank’s forecast on GDP growth in 2019 was lowered from 3.5% to 2.9%.