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Ukraine's GDP grew by 2.3% in 2016 - State Statistics

Ukraine's GDP grew by 2.3% in 2016 - State StatisticsUkraine's State Statistics Service has reported that Ukraine's GDP grew by 2.3% in 2016, while earlier the government using the assessments of the statistics authority said that GDP grew by 2.2%.

This is reported by Interfax-Ukraine.

The authority said on Tuesday that GDP growth in Q4 2016 compared to Q4 2015 was improved from 4.7% to 4.8%, and compared to the previous quarter it was left at 1.9%.

Nominal GDP last year UAH 2.383 trillion and the deflator change was 17.1%.

The authority said that in Q1 2016 GDP growth year-over-year was 0.1%, while in the previous quarter it was 0.5%.

In Q2 2016 growth accelerated to 1.5% and 0.9% respectively, and in Q3 2016 – to 2.3% and 1.4% and 1.4%.

Nominal GDP in Q1 2016 was UAH 455.637 billion, in Q2 2016 – UAH 535.324 billion, Q3 2016 – UAH 669.17 billion and Q4 2016 – UAH 723.051 billion.

The authority recalled that in 2015 Ukraine's real GDP decline accelerated to 9.8% from 6.6% in 2014 and 0% in 2013.

The National Bank of Ukraine (NBU) projected that this year GDP would grow by 2.8%, and updated its projections over the trade blockade to 1.9%.

The government includes GDP growth forecast of 3% to the national budget for 2017. However, it is being revised downwards due to the blockade.
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