GDP growth in Ukraine in Q2 accelerates to 4.6%

The growth of gross domestic product (GDP) of Ukraine in April-June 2019 was 4.6% compared to the same period in 2018, whereas the growth rate in the first quarter was lower, being fixed at 2.5%.

The Q2 indicator was announced by Ukraine’s State Statistics Service on Wednesday.

The country’s real GDP in the second quarter of 2019 (taking into account the seasonal factor) increased by 1.6% compared to the previous quarter (Q1), it said.

As reported, according to a consensus forecast of the Ministry of Economic Development and Trade, Ukraine’s GDP growth in 2019 is expected to slow to 2.7% from 3.3% last year with inflation declining to 7.6% (December to December) from 9.8%.

The corresponding forecast was prepared on the basis of updated assessments by experts from the Ministry of Economic Development and Trade, the Finance Ministry, the National Bank of Ukraine (NBU), as well as 13 state and non-governmental organizations.

At the same time, in its July 2019 Inflation Report, the NBU predicted a decline in consumer inflation to 6.3% by the end of 2019 and further to 5% at the beginning of 2020 with a deviation of 1 pp.


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