Ukraine GDP shows slight rise in 1st Quarter

Ukraine's GDP grew by 0.1% in the first quarter of 2016 in annual terms, compared with the first quarter of 2015, as reported on the website of the State Statistics Service of Ukraine, referring to operative data.

    The gross domestic product of Ukraine in the first quarter of 2016 compared with the fourth quarter of 2015 decreased by 0.7%, taking into account seasonal factors. The data excludes the occupied Crimea and part of the zone of the ATO.

    Earlier, on April 26, the National Bank of Ukraine 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%.

    Experts estimated real GDP growth in the first quarter within 1% year-over-year. 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%.