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Ukraine’s economy grew by 2,3% in second quarter of 2017, - National Bank
15:32, 20 September 2017
Ukraine’s economy grew by 2,3% in second quarter of 2017, - National Bank

Financial controller noted that the seasonally adjusted level of real GDP has increased by 0,6% compared to the previous quarter

15:32, 20 September 2017

www.rbc.ua

National Bank of Ukraine says that Ukrainian economy grew by 2,3% in the second quarter of 2017. This was reported by the NBU press service.

"Ukraine’s economy grew by 2,3% year-on-year in the II quarter of 2017, slightly slowing down from 2,5% y/y in І quarter," the report said.

Financial controller noted that the seasonally adjusted level of real GDP has increased by 0,6% compared to the previous quarter

The growth in the economy, according to the NBU, is due to improving of the financial situation on enterprises and their business expectations. "

“Growth in households private consumption also accelerated significantly, to 6,9% y/y, driven by higher real wages and improved consumer sentiment. But with a restrained fiscal policy, the consumer spending of the general government sector fell (by 7,8% y/y) ", the National Bank stressed.

In this period, the foreign trade indicators, as well as in agriculture, got worse.

Related: EBRD regrets dismissal of independent members of supervisory board from Naftogaz

"At the same time, although the economy continued to grow in the second quarter, its growth rate slowed down. The slowdown in GDP growth was anticipated by the National Bank and is connected to the adaptation of mining and metallurgical enterprises and energy companies to the new business conditions in which they ended up as a result of the trade and transport ties in the east of the country, "NBU added.

As it was reported earlier Finance Ministry expects GDP growth to over 11% and fall in inflation to less than 5% in three years. Cabinet of Ministers approved growth forecast for Ukraine’s gross domestic product by 3-4% in 2018-2010.

Related: We can't live like this any more: How to change Ukrainian economy

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