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3.2 Macro outlook
Ukraine GDP to grow 5-7% annually, Zelensky says. Volodymyr Zelensky promised dramatic economic growth for Ukraine during his presidency when addressing a business forum in Istanbul on Aug. 8. Annual GDP growth will reach 5-7% yoy, fueled by at least USD 20 bln invested in the development of at least 24,000 kilometers of highways, the launch of 15 functioning airports and five seaports, "the tripling of the capabilities" of the military-industrial complex, and the legalization of gambling. The government will launch a farmland market, a competitive energy market, the privatization of large state enterprises, and easing of business conditions, said Zelensky, who invited Turkish entrepreneurs to invest. “My team and I have a full mandate for change,” the president said. “We already have a parliamentary majority, we will soon form a professional government and we will select a decent prosecutor general. We will certainly use our chance to change the country.” The National Bank of Ukraine estimates Ukraine’s GDP will grow 3.0% yoy in 2019, 3.2% in 2020 and 3.7% in 2021.
Ukraine PM targets 40% GDP growth in five years Ukraine’s newly elected PM Oleksiy Honcharuk declared on Sept. 2 a target of cumulative real GDP growth by about 40% in five years. Real GDP should grow by 5% in 2020 and 7% annually in the following years, he told a meeting led by the president and involving leaders of the Cabinet, Parliament and law enforcement. He promised the Cabinet will fulfill these growth expectations with its decisions.
4.0 Real Economy 4.1 Industrial production
Ukraine industrial output declines 0.2% y/y in July Ukraine's industrial
22 UKRAINE Country Report September 2019 www.intellinews.com