Ukraine’s 2017 GDP growth may exceed forecast, central bank says

Ukraine’s gross domestic product (GDP) growth may exceed the official forecast of 1.6 percent in 2017 due to a strong performance of the economy in the second quarter, the country’s central bank said Wednesday.

In April-June, the Ukrainian economy rose 2.3 percent year on year, significantly higher than the target of 1.5 percent, on the back of increased investment activity and domestic demand, the central bank said in a statement.

The economy is expected to maintain a positive pace until the end of the year due to good grain harvest and the favorable situation on the global raw materials markets, according to the statement.

The Ukrainian economy grew by 2.3 percent in 2016 after two years of decline.