Economy Ministry identifies five potential points of economic growth

Economy Ministry identifies five potential points of economic growth

The Ministry of Economy drafts a system of intersectoral balance with five points of economic growth.

"The Ministry of Economy drafts a system of intersectoral balance. The main goal is to find growth points that can give the biggest multiplier effect with the smallest investment. To date, five such strategic points have been selected. This is about 12 codes of economic activity," First Deputy Prime Minister – Minister of Economy of Ukraine Oleksiy Lyubchenko said during an hour of questions to the Government in the Verkhovna Rada, an Ukrinform correspondent reports.

According to him, such an approach will allow channeling state support into the points of economic growth that will produce the greatest effect. Lyubchenko said that the Ministry of Economy was ready to present the system.

As reported, against the background of improving pandemic situation, all sectors of the economy showed better growth rates in the second quarter of 2021, so the Government expects economic growth of more than 4% by the end of the year.

The Ministry of Economy forecasts that Ukraine’s GDP in 2021 will increase by 4.1% compared to 2020. The dynamics of GDP for the first quarter is in line with previously projected trends. However, in the second quarter of 2021, GDP is expected to reach a positive trend.

According to the EBRD forecasts, Ukraine's GDP will grow by 3.5% in 2021 and 2022.


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