Vice PM names main factors of Ukraine`s economic growth in 2017

The Ukrainian Government calls the increase of export capacity, which is projected at 8%, as well as attracting foreign direct investment as the factors of economic growth in 2017, according to First Vice Prime Minister of Ukraine Stepan Kubiv who spoke at a round-table in Kyiv Thursday.

”The main points of growth are exports and attracting investments,” said Kubiv.

At the same time, he emphasized that incentives for exports and investment were laid down in the draft state budget for 2017, the key task off which is to strengthen macroeconomic stability and accelerate economic growth.

Also, according to Stepan Kubiv, funding priorities will be education, healthcare, the Road Fund, industrial production, as well as the security and defense sector.

As UNIAN reported earlier, the Verkhovna Rada of Ukraine on September 21 took up for consideration the government-proposed draft state budget for 2017 with a deficit of 3% of GDP, revenues at UAH 706.269 billion and expenditures at UAH 775.265 billion.

As UNIAN reported earlier, October 20, the Verkhovna Rada of Ukraine adopted in the first reading the Cabinet-proposed draft state budget for 2017 along with the amendments put forward by Parliament`s profile committee, with 230 votes.

The Cabinet approved the draft budget on a September 15 extraordinary meeting. During the presentation, Prime Minister Volodymyr Groysman said that the prepared draft was in fact the budget of economic development.

In June of this year, Cabinet approved a draft budget resolution stipulating GDP growth at 3-4% in 2017, inflation at 8.1%, the unemployment rate 8, 6%, the forecast level of debt – 66.8% of GDP and the hryvnia exchange rate at the level of UAH 27.2 hryvnia to the dollar.

According to the State Statistics Service, the deficit of foreign trade in Ukraine in January-August 2016 amounted to $1.465 billion against a $548.5 million surplus in the same period last year. Export of goods from Ukraine in January-August 2016 compared to January-August 2015 decreased by 9% – to $22.719 billion, and imports – by 0.9%, to $24.184 billion.

The volume of direct foreign investments into the Ukrainian economy (non-resident shareholders` capital) as of July 1, 2016 amounted to $44.791 billion, which is $2,282 billion, or 5.4% more compared to the beginning of the year ($42.509 billion).

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