Ukraine's gross domestic product (GDP) rose 2.4 percent year-on-year in the second quarter of 2017, driven mainly by the successful implementation of economic reforms, the country's Economic Development and Trade Ministry said Monday.
"The key background for the growth was the economic reforms, as well as the improved business expectations and the increase in consumer activity on the back of higher wages," the ministry said in a statement.
The favorable situation on the global commodity markets, particularly increased prices for metal, iron and grain, Ukraine's main exports items, has also contributed to the growth, the statement said.
Another driver of Ukraine's economy in April-June was the construction industry, which activity has increased due to the implementation of construction projects in energy, transport and agriculture infrastructure.
The ministry predicted a growth of between 1.8 percent and 2 percent for Ukraine in 2017.
The East European economy grew by 2.3 percent in 2016 after two consecutive years of decline.
"The key background for the growth was the economic reforms, as well as the improved business expectations and the increase in consumer activity on the back of higher wages," the ministry said in a statement.
The favorable situation on the global commodity markets, particularly increased prices for metal, iron and grain, Ukraine's main exports items, has also contributed to the growth, the statement said.
Another driver of Ukraine's economy in April-June was the construction industry, which activity has increased due to the implementation of construction projects in energy, transport and agriculture infrastructure.
The ministry predicted a growth of between 1.8 percent and 2 percent for Ukraine in 2017.
The East European economy grew by 2.3 percent in 2016 after two consecutive years of decline.
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