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GDP growth in Ukraine accelerates in Q4

Ukraine's real gross domestic product (GDP) in the fourth quarter (Q4) of 2018 increased by 3.4% compared with the same period of 2017, while it grew by 2.8% in the third quarter, by 3.8% in the second quarter, and by 3.1% in the first quarter, the State Statistics Service of Ukraine said on Thursday.

The country's economy in Q4 compared with Q3 was 1.1% up (taking into account the seasonal factor), it said.

At the same time, the State Statistics Service did not provide information about GDP dynamics for the entire 2018.

Late in January 2019, the National Bank of Ukraine (NBU) revised downwards its estimate of Ukraine's GDP growth in 2018 from 3.4% to 3.3%, saying that the growth in Q4 alone was 3.3%. The NBU projects that the country's economy in 2019 will grow by 2.5% and further by 2.9% in 2020.

According to the consensus forecast compiled by Ukraine's Ministry of Economic Development and Trade in December, Ukraine's GDP growth in 2018 was estimated at 3.1% and is projected at 2.9% in 2019.

The national budgets of 2018 and 2019 are built on the forecast of 3% GDP growth per year.

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