The national Bank announced the acceleration of economic growth

 В Нацбанке анонсировали ускорение темпов экономического роста

Completion of land reform, improvement of the financial sector and the provision of privatization will in the next two years to accelerate the pace of economic growth in Ukraine to 4%, said the head of the National Bank Council Bohdan Danylyshyn.

 В Нацбанке анонсировали ускорение темпов экономического роста

Bohdan Danylyshyn

the head of the Council of the national Bank of Ukraine

“To accelerate economic growth to 4% or more in the next two years it is necessary to maintain macroeconomic stability and to complete the reforms by the creation of a land market, to improve the financial sector, anti-corruption and security privatization”

According to him, it is reasonable to reform state-owned enterprises, to form a transparent and effective gas market, including a substantial reform of “Naftogaz” to ensure the protection of property rights. These reforms, in turn, will stimulate investment and productivity.

Danylyshyn also said that the new draft budget for 2019 can be considered another development budget of the country.

The document laid down the GDP growth at 3% inflation at 7.4% in annual terms. The revenues of the consolidated budget should amount to 1,292 trillion hryvnia, which is 130 billion more than this year. As for the debts of Ukraine, this figure reached 1.3 trillion USD. The plans for 2019 – reducing the debt-to-GDP ratio to 52.2%. The size of the budget deficit is 2.3% of GDP and meets the requirements of the IMF. Revenues are growing at a moderate pace (+9.9% in comparison with the budget for 2018) and expenses (+10.4 percent)

— Bohdan Danylyshyn,

the head of the Council of the national Bank of Ukraine

In General, for 2018 year of assessment for real GDP growth in the range of 3.2-3.5 per cent, consumer price inflation within single digits at the end of the year in annual terms. According to Danylyshyn, for GDP growth at 4-6%, Ukraine should ensure that the level of investment at 20% of GDP. He noted that at present the state investments amount to 2% of GDP, and foreign direct investment to 2 billion US dollars.

Earlier, Bohdan Danylyshyn announced forecast of situation on the currency market at the end of the year.