Growth of gross domestic product (GDP) in Ukraine will speed up to 3% in 2017 while inflation rate will reduce to 8.1% (December 2016 to December 2017), according to a basic forecast of economic and social development of Ukraine for 2017, which has been approved by the Cabinet of Ministers of Ukraine on Friday.
“The main stimuli for progress are investment and external demand,” First Deputy Prime Minister and Economic Development and Trade Minister of Ukraine Stepan Kubiv said when presenting the scenario at a meeting of the government.
He noted that the approved basic forecast envisages fast and successful reform implementation with the assistance of international community and favorable business environment.
Kubiv added that the worst-case scenario foresees a 1.5% GDP growth with inflation rate being at 10.3%, while nominal GDP in 2017 is estimated at Hr 2.6 trillion in both cases.
He noted that the worst-case scenario envisages worse foreign economic environment and slow economy modernization processes.
Kubiv also said that, according to the basic scenario, economy growth in 2018-2019 would rise to around 4% per annum and, according to the second scenario, it would grow to 2%.
