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Ukrainian PM claims country managed to avoid default

February 14, 15:06 UTC+3 KIEV
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KIEV, February 14. /TASS/. Ukraine avoided default in 2016 and has a serious potential for further GDP growth, which totaled 2.2% last year, Prime Minister Vladimir Groysman said at the government meeting on Tuesday.

"Fitch [rating] agency raised Ukraine’s sovereign rating, which was pre-default, but already has stable outlook today. This means that we [Ukraine] are no longer facing the default threat. Today we’re demonstrating growth in all sectors of the economy, while last year’s GDP growth amounted to 2.2%," he said.

According to Groysman, the country’s GDP growth reached 4.7% in Q4 2016 year-on-year. Also, inflation growth slowed down to 12.4% versus more than 43% in 2015.

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