Ukraine's central bank said on Thursday it may revise down the targeted indicator of the gross domestic product (GDP) growth for 2017 due to the worse-than-expected performance of the economy in the first quarter.
"Despite the intensification of private consumption and the quite high investment, the current dynamics of the GDP and its components poses the risks that the GDP growth in 2017 may be lower than the forecasted 1.9 percent," the bank said in a statement.
According to the updated data, the Ukrainian economy rose 2.5 percent year-on-year in January-March of 2017, lower that the bank's estimates of 3 percent.
Among the main negative factors that contributed to the lower-than-expected growth, the bank listed the railway blockade in the industrial eastern region of Donbas and the transition of Ukrainian enterprises in this region under the control of pro-independence insurgents.
The Ukrainian economy grew by 2.3 percent in 2016 after two years of decline.
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