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Ukraine's GDP growth up 1.8 percent in third quarter

Xinhua, November 14, 2016 Adjust font size:

Ukraine's gross domestic product (GDP) rose by 1.8 percent year-on-year in the third quarter of 2016, accelerating from 1.4 percent in the second quarter, official figures released Monday show.

On a quarterly basis, the Ukrainian economy grew by 0.4 percent in the July-September period compared with the April-June period, the State Statistic Service said in a statement.

Local analysts believe that the GDP performance has strengthened due to normalization of the political situation that has resulted in improved domestic consumption, international financial support that has helped stabilize the banking system, and the favorable situation on the export markets.

The Ukrainian economy has returned to growth in the first quarter of 2016 after two years of recession, with the GDP expanding by 0.1 percent year-on-year.

In 2015, the economy of the East European country bogged down 9.9 percent. Endi