Government outlines five factors needed for annual 5-7% GDP growth

Government outlines five factors needed for annual 5-7% GDP growth

The Government of Ukraine will continue to make efforts in five directions to ensure the annual GDP growth at the level of 5-7%.

"To ensure the annual GDP growth of 5-7%, we need to continue to attract investments, implement structural economic reforms, develop innovations and modernize production with localization in Ukraine, support small and medium-sized businesses and increase exports," First Vice Prime Minister - Economic Development and Trade Minister of Ukraine Stepan Kubiv said at the Cabinet’s meeting, an Ukrinform correspondent reports.

He stressed that the Government worked to expand the localization of production in Ukraine in 2018.

 “Since 2018, the government-initiated 24-month installment plan for paying VAT on customs clearance of the equipment for own production has been launched at the initiative of the Government. The result: 257 customs clearances of equipment imports with payment of VAT to the tune of UAH 175 million in installments,” Kubiv said.

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