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Ukraine's economy sees signs of stabilization

Xinhua, May 27, 2016 Adjust font size:

The Ukrainian Financial Stability Council (FSC), which evaluates the state of the economy, said Thursday that the country's key economic indicators had showed signs of stabilization over the last three months.

"The inflation rate has slowed to a single-digit level, the economy has returned to growth, the public and business confidence in the banking system is gradually returning and the foreign exchange market has stabilized," the National Bank of Ukraine, which chairs the FSC, said in a statement on its website.

However, the statement said that potential risks to Ukraine's long-term economic stabilization still persist and a fully recovery from the recession will take time.

After a sharp 9.9-percent contraction in 2015, the Ukrainian economy expanded by 0.1 percent on an annual basis in the first quarter of this year, marking the first quarterly growth since 2013.

In April, the country's annual inflation has eased to 9.8 percent from 20.9 percent in the previous month and 32.7 percent in February. Endit