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Groysman expects economic growth in 2016

GDP is expected to inch up 1.5 percent.

Groysman expects economic growth in 2016
Photo: Photo: www.kmu.gov.ua

The government expects the Ukrainian economy to grow 1.5% in 2016.

"We expect a growth of 1.5% by the end of the year and our task is to maintain this growth," the Prime Minister Volodymyr Groysman told a press conference upon his return from the US 21 June.

Earlier the Cabinet had forecast an economic growth at 2% for 2016, but in the first months of the year the central bank and the Ministry of Economic Development downgraded the outlook to 1%.

Real gross domestic product of Ukraine grew 0.1% in the first quarter of 2016 year-on-year, a progress after the previous year's 17% drop.