Ihor Orel
The Ukrainian economy continues to grow, the Verkhovna
Rada gave a start to a road reform, PM Groysman vowed to investigate inflated
bills for central heating - these are the main economic news of this week.
www.onehourtranslation.com
This week the State Statistics Service reported that
the Ukrainian economy continued to grow in the third quarter of 2016. GDP grew
by 0.4% compared to the second quarter after a 0.6% rise. In annual terms,
Ukraine's GDP accelerated from 1.3% a year earlier to 1.8%. Fitch Ratings has
also seen positive trends in the Ukrainian economy, raising the country’s
sovereign rating from "CCC" to "B-" , at the same time
rating Ukrainian Eurobonds at "B".
The banking sector
has stabilized, Fitch states, adding that it is still weak with low
capitalization levels and non-performing loans of over 50%, posing a risk to
economic stability and constraining economic recovery. The main factors that
could, individually or collectively, lead to a negative rating action,
according to Fitch, are: re-emergence of external financing pressures, loss of
confidence and increased macroeconomic instability stemming from delays to
disbursements from, or the collapse of, the IMF program, as well as external or
political/geopolitical shock that weakens macroeconomic performance and
Ukraine's fiscal and external position.
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