Ukraine's National Bank reports deceleration of GDP growth in Q3 of 2018

Source : 112 Ukraine

During three months, the growth rate of the economy decreased from 3,8% to 3,1%
13:45, 2 November 2018

Open source

The National Bank of Ukraine (NBU) claimed the decrease of the GDP growth in the third quarter of 2018 as it is stated in October inflation report of the NBU.

According to the bank, in the second quarter, the growth of the GDP was 3,8 percent. In the third quarter, it apparenty decelerated.

Related: Russia's sanctions not to influence significantly Ukraine's macro-stability, - National Bank

'In the third quarter of 2018, the growth of the economy of Ukraine slightly decelerated (up to 3,1% according to NBU estimation), amid the aggravation of the majority of the basic branches of the economy. Particularly, the decrease of the yield of the early crops influenced the rate of the agriculture sector development. In its turn, the growth of the industry restrained the aggravation of the conjuncture at the external markets, the repair works at some metallurgical enterprises and complication of the cargo transportation,' the report said.

Earlier, the World Bank worsened the prediction of the growth of the GDP of Ukraine in 2018 - from 3,5% to 3,3 percent. 

Related: Almost half of world population lives below the poverty line, - World Bank

During the international economic forum in Kharkiv, President Petro Poroshenko said that he expected growth of gross domestic product in 2018 to 4%.

Besides, in five years, the GDP per capita in Ukraine will grow by 1.5 times, analysts of the International Monetary Fund calculated. The growth of GDP, they say, is possible due to the reform of legislation, the judiciary and the land market, as well as by bringing up the production.

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