Infrastructure modernization may add 1 pct to Ukraine's 2018 GDP growth: PM

KIEV, Dec. 20 (Xinhua) -- The infrastructure modernization in Ukraine could increase the country's projected gross domestic product (GDP) growth by 1 percent next year, Ukrainian Prime Minister Volodymyr Groysman said here Wednesday.

"The infrastructure is very important for the economic development. It is set to be prepared for the exports and the movement of goods and contribute to the production of goods," Groysman was quoted as saying by the government press service.

Next year, Ukraine will continue the major overhaul of its transport infrastructure, focusing on the rail network, Groysman said.

He noted that the upgrade will spur the development of agriculture and metallurgy, the country's two main export-oriented sectors.

This year, the Ukrainian government started a major modernization of the country's infrastructure, prioritizing projects on automobile roads, seaports and airports upgrade.

As the result, a total of 2,100 kilometers of roads have undergone renewal this year, setting a record. Besides, in the first nine months of 2017, Ukraine's air traffic increased by 32.2 percent, while cargo transit volumes in ports were up by 4.2 percent.

According to the government estimates, the complete modernization of Ukraine's infrastructure will require about 35 billion U.S. dollars in investment.

The government has projected that the Ukrainian GDP will increase by 3 percent next year. Enditem