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Ukrainian economy 1.3 per cent up in 2Q

The GDP growth speeds up.

Ukrainian economy 1.3 per cent up in 2Q
Photo: Max Levin

Ukraine's GDP in April-June grew 1.3 per cent up compared with the same period of 2015 and 0.6 per cent up compared with January-March 2016 (with regard to the seasonal factor), the State Statistics Service has said.

There was a 14.7-per-cent GDP decrease in April-June 2015.

In January-March 2016, the GDP grew 0.1 per cent up compared with the same period of 2015, whereas a year it showed a 17-per-cent decrease.

The Cabinet of Ministers initially expected the economy to grow by 2 per cent in 2016 but after the first two months, the National Bank of Ukraine and the Economic Development Ministry revised the forecast down to 1 per cent. In late June, Prime Minister Volodymyr Hroysman said a 1.5-per-cent growth was expected by the end of the year.