Fitch reduces Ukraine's GDP growth forecast for 2012 to 0.5%
2012-10-24 18:05:29
Ukraine's GDP will increase by 0.5% in 2012 and 3.2% in 2013 compared to 5.2% economic growth in 2011, forecasts international rating agency Fitch.
"According to the base scenario, Fitch forecasts a slowdown in the hryvnia's declining rate against the U.S. dollar: by 10% by the end of 2012, as well as GDP growth to speed up to 3.2% in 2013 compared to 0.5% in 2012 (5.2% in 2011)," Fitch said in a press-release citing its report, "Ukraine's Banking Sector: More Stability?".
Fitch earlier forecast economic growth in Ukraine this year at 2.4% in real terms. The earlier forecast for 2013 was 3.5% economic growth.