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Ukraine's economy grows 1.8% in Q3

GDP grows faster.

Ukraine's economy grows 1.8% in Q3
Photo: Photo: Max Levin

In a mid-term assessment released on 14 November, Ukraine's State Statistics Service said the nation's GDP grew 1.8% in Q3 over the same period in the previous year and 0.4% compared to the second quarter of 2016 (seasonally adjusted).

In the first quarter of 2016, Ukraine's economy inched up 0.1%, and 1.4% in the second quarter. Thus, Ukraine's economy shows signs of accelerated growth.

Initially, the Cabinet had forecast a 2% growth, but after the first months of the year the National Bank and the Ministry of Economic Development downgraded outlook to 1%.

In late June, Prime Minister Volodymyr Groysman said economy is expected to grow 1.5% in 2016.