President of Ukraine Petro Poroshenko expects the GDP to grow by 1.8% in 2017 and the economic growth will accelerate in the country to 4% in 2020.
The President of Ukraine said this in his annual state of the nation address at the Verkhovna Rada of Ukraine on Thursday, Ukrainian News Agency reports.
"Resolute anti-crisis steps, macro-financial stabilization, lower tax burden on business, de-regulation, development of new foreign markets and other measures - all this opened the way for the economic revival. GDP has been growing six quarters in a row after 14 quarters of decline. The GDP growth is predicted at 1.8% this year. We are expecting acceleration of the economic growth to 4% in 2020," he said.
He called on the Cabinet of Ministers to find ways to transform the current revival of the economy into swift economic growth.
As Ukrainian News Agency earlier reported, Ukraine's GDP grew by 2.5% in the first quarter and by 2.4% in the second quarter of 2017 year over year.
In July, the National Bank of Ukraine worsened the outlook for gross domestic product growth for 2017 from 1.9% to 1.6%.
In March 2017, the NBU worsened GDP growth outlook from 2.8% to 1.9% in view of temporary cargo blockade in Donbas.
The Cabinet of Ministers lowered its GDP growth forecast from 3% to 1.8% at the end of May.
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