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Last year’s GDP growth is caused not by an increase in real production, but by a successful situation in foreign markets-academician Anatolii Peshko

16:46 / 23.08.2018

Kiev. August 23. UNIAN. The reason for last year’s growth in gross domestic product is not an increase in real production, but a successful situation in foreign markets, which allowed to sell Ukrainian goods at a higher price.

This was stated by academician and Vice-President of the Academy of economic Sciences of Ukraine, academician of the Academy of higher education of Ukraine, academician of the Academy of social management of Ukraine, doctor of economic Sciences, candidate of medical Sciences Anatolii Peshko in his speech at the press conference in UNIAN.

“This was simply due to the well – established situation in foreign markets-the growth of metal prices and the growth of prices for agricultural products. Due to the price, and not due to the volume of goods produced, we have experienced a decline in production and received an increase in gross domestic product, although in fact there is no real growth, on the contrary – there is a drop in production in almost all sectors,” he said.

Also, academician Peshko noted that the fall of the hryvnia in the summer of this year is not caused by seasonal fluctuations, and the fact that “the country does not work industry and other industries.”

According to him, this year exports of machinery, herbicides and seeds have halved, which has already led to negative consequences.

“This means that production has halved. Since exports fell twice, revenues to the Treasury from excise and value added tax also fell twice. That’s where the legs of the budget deficit actually grow, ” Anatolii Peshko stressed.

As UNIAN reported, the gross domestic product of Ukraine in 2017 increased by 2.2%. At the same time, the decline in industrial production in the country last year amounted to 0.1%