Ukraine`s GDP sees decline in Q1 compared to previous quarter

Tuesday, June 21, 2016 - 20:34 (EEST) Section: Latest news

Ukraine`s gross domestic product in the first quarter of 2016 decreased by 0.7% as compared with the fourth quarter of 2015, seasonally adjusted and excluding the occupied Crimea and part of the Anti-Terrorist Operation zone, according to the State Statistics Service of Ukraine.
In annual terms, Ukraine`s GDP in the first quarter of 2016 grew by 0.1% year-over-year.  
This has been in line with the assessment of Ukraine`s GDP dynamics in the first quarter made by the State Statistics Service and published on May 16.
According to the data, nominal GDP in the quarter under review amounted to UAH 453.2 billion, or UAH 10,605 per capita.
Earlier, on April 26, the National Bank of Ukraine (NBU) reported that, according to its estimates, the Ukrainian economy continued its recovery in 1Q 2016, recording a slight GDP growth in annual terms. NBU predicts real GDP growth in 2016 at 1.1%.
As UNIAN reported earlier, the decline in GDP of Ukraine in 2015 compared with the previous year (at constant 2010 prices), excluding the occupied Crimea and part of the zone of the ATO,  accelerated to 9.9% from 6.8% a year earlier. Nominal GDP for the year at current prices amounted to UAH 1.979 trillion, and UAH 46,201 per capita.
The key creditor of Ukraine, the International Monetary Fund, forecasts GDP growth in Ukraine in 2016 by 1.5% with inflation at 15.1%, the World Bank expects GDP growth by 1% with an inflation rate of 15%.
According to an expert consensus forecast compiled by UNIAN, Ukraine`s gross domestic product by the end of 2016 could reach 1%.