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PM seeks to make Ukrainian economy most successful in Europe

Volodymyr Groysman wants to achieve an GDP growth of 5-7%.

PM seeks to make Ukrainian economy most successful in Europe
Photo: Photo: Vladyslav Musienko

Prime Minister Volodymyr Groysman said that Ukraine's economy can become one of the most successful on the European continent.

"I have repeatedly said that we can become one of the most successful economies in Europe. We can totally do that. We need a GDP growth at 5-7% or higher rather than that of 3%," the head on government said at a Cabinet meeting on Wednesday, 25 October.

"To achieve that we need to attract investment in the country. We need to create comfortable conditions for entrepreneurs to make long-term investments in our country's economy. Investments in the economy mean jobs, Ukrainian products, the country's development and innovation, greater wages and better social standards," Groysman said.

In the first quarter of 2017, Ukraine's GDP increased 2.5% over the same period in 2016, the second quarter showed a 2.4% growth.

First Deputy Prime Minister, Minister of Economic Development and Trade, Stepan Kubiv, said in late August that he expected the gross domestic product of the nation to grow 2% in 2017.

The official government's forecast for 2018 is a GDP increase of 3%.