Ukraine’s economy returned to growth in 2013

In the second quarter of Ukraine’s GDP grew by 1.3% compared to the same period last year, reported the State statistics service. This is the highest figure in 2013, says Bloomberg, noting that the Agency polled economists had expected growth at 1.7%.

Growth in the second quarter compared to the previous amounted to 0.6%.

According to the economist of the Kiev investment company Adamant Capital of Constantine fastivets ‘ drivers of growth were manufacturing and construction. He believes that the revitalization of Bank lending will bring to further increase of Ukraine’s GDP this year.

Economic growth in Ukraine resumed for the first time in 2014 in the first quarter, when the country’s GDP in annual terms increased by 0.1%. In 2015, the Ukrainian economy contracted by 9.9%. While the annual rate of decline has decreased each quarter.

In the third quarter of last year, Ukraine is technically out of recession, in which it was a year and a half.

This year, the national Bank and Ministry of economic development expects GDP growth in the range of 1-1. 1%, reminds “Interfax-Ukraine”.

The improvement of the Ukrainian economy, says Bloomberg, preventing delays in the provision of international economic aid of $17.5 billion, the lack of momentum in the fight against corruption and the high base interest rate, which is 15.5% per annum.