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Ukraine's GDP growth becomes stronger reaching 2.1% in Jan-July – Economy ministry

KYIV. Sept 15 (Interfax-Ukraine) – The growth of the gross domestic product (GDP) of Ukraine in January-July 2021 became stronger, reaching 2.1%, the Ministry of Economy has said.

"In January-July 2021, according to the calculations of the Ministry of Economy, the composite production index (CIP) grew by 1.3% (by 1% in January-June 2021, and it was a fall by 6.6% in January-July 2020), GDP rose by 2.1%," the Ministry of Economy said in the July review of economic activity posted on its website on Wednesday.

As the ministry said, GDP growth in the specified period was thanks to growth in industry, agriculture, transport and construction. In particular, in July, the industry showed growth for the fifth month in a row, but it slowed down to 0.2% compared to 1.1% in June 2021. Agricultural production in July grew by 9.2% versus a fall of 16% in June 2021, which is primarily due to the active phase of the harvest campaign.

At the same time, the Ministry of Economy called the frequency, duration and level of severity of possible new quarantine restrictions, deterioration of the external economic situation in world markets, as well as the full launch of Nord Stream 2 pipeline, which may affect the deviation from expected transit performance, as risks for the GDP growth projections.