The Ukrainian government has slashed its forecast for the country's gross domestic product (GDP) growth in 2017 to 3.5 percent from 4 percent estimated earlier, First Deputy Economy Minister Yuliya Kovaliv said here Wednesday.

"Our expectation for the economic growth next year is 3.5 percent," Kovaliv told a media briefing, without revealing reasons behind the downgrade.

She said that the GDP growth next year will be supported by a rebound in the industrial production and a stronger domestic consumption, backed by a 10-percent increase in government expenditures on living standards.

The Ukrainian economy, which sank into recession in 2014, is projected to start recovering this year, with GDP growing by 1 percent.

Last year, Ukraine's economy saw a contraction of 9.9 percent, which marked the worst performance since 2009. Endit

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