GDP growth of 2.2% and a decline in inflation: Ukraine through the eyes of the Ministry of Finance for 2016
In the State statistics service of Ukraine and the Ministry of Finance reported about the state of the economy of Ukraine for the year 2016. Thus, the growth of Ukraine’s GDP in 2016 to 2.2%, the budget deficit was 2.9% and was in line with the IMF program.
This was announced by first Deputy Finance Minister Oksana Markarova during a public report on the performance of the state budget for 2016, reports UNIAN.
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GDP growth
“Today we can already speak about a 2.2 percent real GDP growth in 2016,” said Markarov.
According to her, nominal GDP for the year totalled 2,396 trillion UAH.
Also Markarov recalled that the inflation rate in 2016, dropped to 12.4%, which practically corresponds to forecasts of the Ministry of Finance.
“In presenting the report for the year 2016, happy to say that we managed to return to growth, and this is important achievement, along with fulfilling or even exceeding on a number of articles” — said the Deputy Minister.
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The budget deficit
The deficit of the state budget of Ukraine by the end of 2016 amounted to 2.9% of GDP, which corresponds to the set in the program with the International monetary Fund an extreme level.
“The deficit within the limits prescribed in the program with the IMF, and 2.9%,” — said the politologist.
The trade deficit
The deficit of foreign trade in Ukraine in January 2017 86.7 million. against 308,7 million. the deficit for the same period last year.
As reported on the website of the state statistics service, export of goods from Ukraine in January 2017 against the January 2016 have increased by 48.1% to 3,026 billion., imports by 32.4 per cent to 3,112 billion.
The coverage ratio of export import was 0,97 (in January 2016 to 0.87). Foreign trade in this period were carried out with partners from 184 countries of the world.
According to the state statistics service, in January 2017, the volume of exports to the European Union compared to the same period last year increased by 25.6% to 1,194 billion. and is 39.5% of total exports.
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Imports of goods from EU countries in January increased by 5.2% compared to January 2016 up to 1,210 billion. and is 38.9% of the total import volume.
Add that to the deficit of foreign trade in Ukraine in 2016 is 2,886 billion. against 610,7 million. surplus for 2015.
Recall, the Prime Minister of Ukraine Vladimir Groisman said that the government intends in 2017 to ensure the increase of pensions.
From December 2016 in Ukraine increased by 10% social standards: a living wage – to 1544 UAH, the minimum wage is 1600 UAH.