NBU: Real GDP growth to slow down to 2.5 percent

The National Bank of Ukraine forecasts that the real GDP growth in 2019 will slow down to 2.5 percent.

"Last year, the Ukrainian economy showed record growth for the past seven years - 3.3%, according to the latest National Bank estimates. However, in 2019, the real GDP growth is expected to slow down to 2.5% due to the tight monetary policy necessary to reduce inflation to the target and the restrained fiscal policy caused by the repayment of significant parts of public debt this year," First Deputy Governor of the National Bank of Ukraine Kateryna Rozhkova said at a briefing, an Ukrinform correspondent reports.

Rozhkova noted that the grain crop was also expected to decline after the record, which made agriculture the main driver of economic growth in 2018. An additional factor will be the gradual global economic and trade slowdown, in particular, due to the impact of protectionist measures in the world.

In addition, the private consumption will remain a key driver of economic growth due to further increase in real incomes - wages, pensions and money transfers from abroad.