The Cabinet has lowered its forecast for economic growth

Кабмин ухудшил прогноз по росту экономики

The GDP growth forecast was reduced from 3% to 1.8%.

The Cabinet of Ministers of Ukraine has lowered its estimate of growth in gross domestic product (GDP) from 3% to 1.8%. The corresponding decree was adopted at the government meeting on Wednesday, may 31.

In addition the increased estimate of inflation (December to December) from 8.1% to 11.2%.

Among the reasons for the revision of the assessment of the dynamics of economy first Deputy Prime Minister – Minister of economic development, Stepan Kubiv said that the increase in the minimum wage, termination of transport communication with the uncontrolled territories in Donbas, the price dynamics in key countries for export markets and the revision of the IMF forecast of the countries-trading partners of Ukraine.

In turn, the head of the Ministry Andrey Reva said that talking about the deterioration of the macroeconomic forecast for 2017 is incorrect, as the updated version expected payroll of 2017 upgraded from 666,9 billion to 796,3 billion UAH, and average monthly salary (gross) – with 5988 7104 UAH to UAH.

Earlier, the state statistics Committee reported that Ukraine’s GDP in the first quarter of this year increased compared to the same period last year by 2.4%.

Source