Ukraine's GDP to grow 4% in 2011-2012

20:17, November 29, 2010      

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Ukraine's gross domestic product (GDP) in 2011-2012 is expected to grow 4 percent, the National Bank of Ukraine (NBU) said Monday in its macroeconomic review.

"Under the unchangeable monetary policy in a period from 2011 to 2012, a growth of the real GDP is expected at a potential level of about 4 percent with inflation to reach about 11 percent," NBU said in a statement.

However, trade conditions were expected to worsen due to further hike of prices for gas and oil that would slow the economy growth, it added.

"The fiscal policy will be rather mild under a substantial excess of the expenditure side over the revenue side," the review said.

NBU noted that in 2011 inflation will be at a rather high level, but will be lowering down in 2012.

"A considerable growth of the economic potential is also expected as a result of holding UEFA EURO 2012," the review said.

According to the Ukraine's state statistics committee, inflation rose 0.5 percent in October from September and it grew 7.9 percent from December 2009.

Source: Xinhua


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