Expert says it would be difficult to reach 5% GDP growth
2011-11-18 17:05:07
At end-2011 Ukraine is unlikely to reach a 5% GDP growth, executive director of the Bleyzer Foundation Oleh Ustenko said during a round table entitled "Public Finance Reform in Ukraine".
"If there is a contraction of the global economy, I can hardly imagine how we can continue to show that is budgeted - 5% GDP growth," he said.
As reported, according to the Bleyzer Foundation in 2012 Ukraine's GDP growth will be slightly lower than government's forecast, and will make 3.5% of GDP.
Ustenko also believes that improving the fiscal deficit without cutting costs seems impossible.
"It's good to try to collect more taxes, it's good to try to administer them better, but the effect of this will be postponed," he said.
According to the expert, in this regard, in the short term it is necessary to consider the cost-based article of the budget and cut spending.
It was reported that Prime Minister Mykola Azarov considers that the budget deficit for 2012 should be kept to a minimum.