Ukrainian economy preserves its positive growth and is in line with forecasts
The economy of
Ukraine preserves its positive growth
and is in
compliance with earlier issued macroeconomic forecasts. Thus, according to the operational
data of the
State Statistics Service of Ukraine
(SSSU), the country's GDP rose by 2.4% in
the second quarter of 2017, compared with the
same period in 2016 and by
0.6% compared with
the 1st quarter of 2017.
The key factors for this positive development
are the reform
of the economy,
the improvement of business expectations
and the growth
of consumer activity with an
increase in wages. In addition,
a positive impact was provided by
the external market performance, namely the growth
of prices on commodity markets,
in particular metal, iron and
grain as well as a high
level of construction activity at industrial and
infrastructure facilities.
Commenting on the statistical data of the SSSU, Deputy Head
of the Strategic
Group of Advisers under the Cabinet of
Ministers Pavlo Kukhta stressed that the growth
of indicators by 2.4% in the
second quarter of 2017, compared with the same
period in 2016 is in line
with forecasts. Economic recovery after a deep decline
in 2014-2015 continues. He also pointed
out that indicators of investment
demand are showing a tendency to increase.
Thereby, the volume of construction
products increased by 26.3%, machinery-producing industry
indicators increased by 10.7% and investment
imports, inter alia imports of
machinery, equipment, vehicles and professional
equipment grew by 36%. Pavlo Kukhta
emphasized that the most important
hurdle for economic growth in Ukraine is
a low level of investment, thereby increased investments are a good signal and
if this trend
continues Ukrainian economy will switch
to the structurally
higher growth rates that are
needed in order to take a worthy place
among economically developed countries.
Apart from that,
specialists of the Department of economic strategy
and macroeconomic forecasting of the Ministry of
Economic Development and Trade of
Ukraine predict the economic upturn
will continue with GDP growth being 1.8% to 2% on the outcomes
of the year.