The national Bank intends to improve the forecast of growth of economy of Ukraine

The national Bank concluded that Ukraine’s economy is growing at a more rapid rate than previously predicted. So after a month revise forward-looking indicators.

About it in interview “Interfax-Ukraine” said the Deputy Chairman of the NBU Dmitry Sologub.

“This year, we are conservatively evaluated the effect of the blockade (Donbass) to GDP growth. The data for the second quarter and some indicators for the third suggest that the situation is better than we expected. So we see that by the end of 2017, the economy may expand more than we expected,” said Sologub.

In particular, quickly recovered metallurgical enterprises after the termination of the trade and transport relations in the Donbas. This recovery also supported an active foreign demand. There are also promising statistics for the agricultural sector.

“Although the harvest is lower than last year, our expectations were even worse, as weather conditions this year were unfavourable,” said Sologub.

The new macroeconomic forecast presented in short format in the monetary briefing on October 26. A week after this is published a new inflation report that the new forecast will be presented in wide format.

We will remind, in early July, the regulator worsened its forecast on growth of economy of Ukraine in 2017 from 1.9% to 1.6%.

A week ago, the NBU Council approved the basic principles of monetary policy for the year 2018 and the medium term. The document provides for the growth of the state economy and reducing inflation. In particular, in 2018 GDP is expected to grow by 3%, and in 2019 – 4%.