Ukraine economy in January-February 2016

Ukraine economy in January-February 2016

Resulting January 2016 economy of Ukraine (means GDP the volume of produced goods and services) equaled in national currency 1’500’518.4 mln grivna (about $59’658.56 mln), that is fell by 1.7% in face value comparing 2015 (real drop is evaluated by National Bank of Ukraine at -10.5%).

The country’s external trade during the period dropped by 27.2-29.9% (the import and export respectively).

While real wages of Ukrainians fell by 9.9%, and consumer prices rose by 40.1%. The minimum monthly wage was recorded in postal and courier area – 2’369 UAH ($94), and maximum wage (20’500 UAH or $815) – in aviation.

The Ministry of Finance of Ukraine and the national Bank predict that the situation will improve and by the end of 2016 GDP will grow by 1%. On the website the Ministry of economic development of Ukraine we see that the basic vectors of development of the country are creating an enabling environment for business, reform of state-owned enterprises, combating corruption and changing the rules of public procurement.

Country’s prospect

Forecasts of development of the country made by various analytical groups generally agree at her gradual exit from the crisis and economic growth of 1-2%.

The World Bank predicts that Ukraine’s economy in 2016 will increase by 1%, while in 2017 — 2%. Fitch also expects that growth in 2016 will amount to 1%.

IMF Ukraine, who preview country’s growth at 2% in 2016, also calculate 2016 CPI at 25.89-29.83% if keep monetarist policy.