Ukraine’s Economy Continues to Improve

Ukraine’s Economy Continues to Improve

Ukraine’s economy continues to improve, with the country making progress in multiple areas. Despite the ongoing conflict in the east of the country, Ukraine has seen an increase in GDP growth, a decrease in inflation, and a reduction in the budget deficit.

GDP growth has been positive for the last three years, increasing from -7.2% in 2015 to 3.2% in 2018. This growth has been driven by the services sector, which accounts for more than half of the country’s GDP. In addition, the manufacturing sector has also seen an increase in activity, with exports increasing by 10.7% in 2018.

Inflation has also been on the decline, with the rate dropping from 24.9% in 2015 to 8.2% in 2018. This has been helped by the National Bank of Ukraine’s efforts to reduce the money supply and keep inflation in check.

The budget deficit has also been reduced, from 7.9% of GDP in 2015 to 2.6% of GDP in 2018. This has been helped by increased tax revenues, as well as increased spending on infrastructure and social programs.

Overall, Ukraine’s economy is continuing to improve. The country is making progress in multiple areas, and the outlook for the future is positive. With continued reforms and investment in the country’s infrastructure, Ukraine should continue to see positive economic growth in the years to come.

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