KIEV, July 12 ā Ukraineās economy expanded 9.3% on the year in June, the strongest economic growth over the past 18 months, helped by growing external demand for steel, the countryās main exports commodity.
Ukraineās economy was showing steady acceleration since the beginning of the year, but now it had reached the point that the government would probably revise upwards some economic forecast indicators.
The economy expanded 5% on the year in January-June, accelerating from 4% growth in January-May, 2.7% in January-April and 2.2% in January-March, Prime Minister Yuriy Yekhanurov said.
The robust economic expansion shows that businesses have been successfully digesting a 90% hike in natural gas prices from Jan. 1. The economy was also defying a major political crisis in Ukraine as parties are yet to form a new government following the March 26 election.
āThe political crisis has not affected the economy,ā Yekhanurov told a government meeting on Wednesday.