Ukraine’s economy increased 1.2%


Ukraine’s GDP increased 1.2% for the 10 months of 2016. Taking this into account, the Economic Development and Trade Ministry remains its GDP growth forecast at 1%.

The key factors driving the GDP growth in January-October 2016 were rising world prices for Ukrainian export products, improvement of companies’ financial results, strengthening domestic demand, a growing business sentiment index and a low statistical basis, reports UkrAgroConsult.

In the opinion of the ministry, Ukraine’s economic growth in the remainder of the year may be jeopardized by risk factors such as a fall in commodity prices due to a possible slowdown in China’s economic growth, expansion of trade restrictions and aggravation of the military conflict by Russia, as well as intensifying devaluation and accelerating inflation.



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