Off the wire
• Xi visits Heixiazi Island, stressing opening-up policy  • Nigeria to boost economic partnership with 8 African countries  • African countries prepare protocol on marine and coastal resources  • Prominent right-wing Jewish activist sworn in as lawmaker in Israeli parliament  • Swiss aid convoy reaches conflict-stricken Donetsk  • U.S. stocks extend gains on Greece bailout, rising oil  • 499 new foreign businesses register in Albania in 2016  • Israeli right-wing party threatens to torpedo new coalition deal  • Xi stresses importance of cooperative farming  • Roundup: German cabinet approves first-ever bill to integrate refugees  
You are here: 　 Home

Ukraine revises down 2017 GDP growth forecast to 3.5 pct

Xinhua, May 26, 2016 Adjust font size:

The Ukrainian government has slashed its forecast for the country's gross domestic product (GDP) growth in 2017 to 3.5 percent from 4 percent estimated earlier, First Deputy Economy Minister Yuliya Kovaliv said here Wednesday.

"Our expectation for the economic growth next year is 3.5 percent," Kovaliv told a media briefing, without revealing reasons behind the downgrade.

She said that the GDP growth next year will be supported by a rebound in the industrial production and a stronger domestic consumption, backed by a 10-percent increase in government expenditures on living standards.

The Ukrainian economy, which sank into recession in 2014, is projected to start recovering this year, with GDP growing by 1 percent.

Last year, Ukraine's economy saw a contraction of 9.9 percent, which marked the worst performance since 2009. Endit