ugust, official data show

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KIEV, Aug. 31 (Xinhua) -- The Ukrainian economy has emerged from more than two years of recession after showing two consecutive quarters of growth. Yet,
uncertainties still remain, posing long-term risks to a sustainable recovery.


WORST RECESSION OVER

In August, official data showed that the Ukrainian gross domestic product (GDP) went up by 1.3 percent year-on-year in the second quarter of 2016, after
rising 0.1 percent in the first quarter.


Although the figure was lower than the preliminary official estimates of 2.3-percent GDP growth in the second quarter, it has indicated that the economy
had emerged from the crisis that started in the first quarter of 2014.


"This data suggested good news for all Ukrainians. First of all, we have officially emerged from the recession, and secondly, the second quarter results
show that the economic recovery is accelerating," said Vitaly Shapran, an expert
at the Ukrainian Association of Financial Analysts.


Apart from the GDP increase, some other key Ukraine's economic indicators have also returned to the positive territory in the first two quarters of the
year, inspiring hopes for a sustainable recovery.


Industrial output, a traditional growth engine of Ukraine, in January through June rose 2 percent on an annual basis, which marked the first increase since
2012.


Meanwhile, the retail sales, another drive of the economy, went up 2.3 percent in the first half against the backdrop of easing inflation and a
22.4-percent increase in average wages.


The country's financial system has also seen a moderate rebound as evidenced by the fact that the central bank has eased its monetary restrictions, including
limits on foreign currency purchases and a ban on withdrawing investment profits
from the country. Besides, the bank has reduced the key interest rate to 15.5
percent in July 2016 from 22 percent in December 2015.


The positive economic data has raised optimism that the worst recession in Ukraine could be over.


"Today, we can safely say that after two years of the severe crisis, the economic environment has become calmer and more favorable. Still, there are many
challenges in the budget sector, but a possible default and the financial
collapse are not on the agenda," said Natalia Leshchenko, an analyst at the
Center for Social and Economic Research "CASE Ukraine."


RECOVERY STILL FRAGILE

Even though the latest economic data is encouraging, some analysts warned against premature celebration as the overall picture of the recovery is still
mixed.


Many key macroeconomic indicators contin. Cheap Seahawks Jerseys   Cheap Washington Redskin Jerseys   Cheap Los Angeles Rams Jerseys   Wholesale Raiders Jerseys   Wholesale Patriots Jerseys   Wholesale Jets Jerseys   Wholesale Saints Jerseys   Wholesale Giants Jerseys   Wholesale Eagles Jerseys   Wholesale Dolphins Jerseys 

Posted 14 Aug 2018

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