: Economy Ministry forecasts industrial output growth of 2% over six months

17:44 Mar. 29, 2016

Economy Ministry forecasts industrial output growth of 2% over six months

Photo by UNIAN.

Highest growth dynamics in February 2016 were recorded in pharmaceutical production

The Ukrainian Ministry of Economic Development and Trade forecasts industrial production in Ukraine will grow by 2% in the first half of 2016, the ministry reported on its website.

According to the forecast, the industrial recovery during the period will be propped up by a gradual improvement on global markets, the recovery in certain economic sectors of the country, the improvement in the financial situation of companies, as well as stronger investment and consumer demand.

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At the same time, intensification of hostilities in the country's east, as well as Russia's trade restrictions can endanger the fragile recovery in Ukraine.

Industrial output in Ukraine grew by 7.6% in February 2016 year-over-year.

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According to the State Statistics Service, the highest growth dynamics in February 2016 were recorded in pharmaceutical production, by 35% year-over-year. The manufacture of coke and fuel saw a 30% increase year-over-year, while coal production rose by 27.9% from February 2015.

The highest production growth rates in February 2016 as compared with the previous month, January 2016, were recorded in computing equipment production, by 2.2 times. The manufacture of machinery and equipment grew by 43.5%, furniture production rose by 41.9%, and that of electrical equipment by 39.7% from January 2016.

Last year, the decline in industrial output accelerated to 13.4% as compared to 2014 from 10.7% recorded a year earlier.

Reporting by UNIAN.

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