Government cuts GDP growth forecast to 3.9%
2011-11-30 16:35:43
The Cabinet of Ministers of Ukraine has lowered the gross domestic product (GDP) growth forecast for 2012 to 3.9%, First Deputy Minister of Economic Development and Trade Vadym Kopylov said.
He said that the nominal GDP forecast is 1.5 trillion UAH (USD 1 - UAH 7.99), adding that this outlook is pessimistic.
According to him, the government did not make changes to the previously approved other macroeconomic indicators for 2012.
As reported, the Verkhovna Rada of Ukraine on October 20 adopted in first reading the draft state budget for 2012.
Draft budget for 2012 was calculated based on the following macroeconomic indicators: GDP growth - 5.5%, nominal GDP - UAH 1.505 trillion, inflation - 7.9%, producer price index - 9.4%.
At Tuesday's unification congress of the Federation of Employers of Ukraine, Prime Minister Mykola Azarov also said about reduction of the projected rate of GDP, calling a rate of 4%.
He reminded that in previous forecasts, GDP growth was envisaged at 5.5%, but the world economic situation compels reconsideration of forecasts and reduction of the expected growth.
Work on the budget is continuing, and the government is waiting for completion of the talks with Russia on gas prices. It is not excluded that the budget will be adopted after December 20.