Rise in Ukraine's GDP accelerates to 1.3% in Q2, 2016

Rise in Ukraine's GDP accelerates to 1.3% in Q2, 2016Ukraine's real gross domestic product (GDP) in the second quarter of 2016 increased by 1.3% compared to the second quarter of 2015, whereas in the first quarter of this year the figure was a mere 0.1%, the State Statistics Service has said.

According to live data, compared to the previous quarter Ukraine's GDP in the second quarter of 2016, taking into account the seasonal factor, rose by 0.6%, while the decline of 0.7% was recorded in the first quarter.

As reported, Ukraine's GDP last year fell by 9.9%, although the rate of decline year-on-year was steadily falling: in the first quarter the figure stood at 17%, in the second quarter at 14.7%, in the third quarter at 7.2%, and in the fourth quarter at 1.4%.

The deflator was also declining: from 42.8% in the first quarter to 39.6% in the second quarter, 37.9% in the third quarter and 32.7% in the fourth quarter, which brought the figure for the whole year to 38.4%, and the first quarter of 2016 it dropped to 20.5%.

The National Bank and the Ministry of Economic Development and Trade downgraded their forecast for GDP in 2016 from 2% to 1-1.1%.
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