GDP growth this year will be lower than planned, Ukrainian Economic Development and Trade Minister Petro Poroshenko said at a briefing at the Cabinet of Ministers of Ukraine on Wednesday.

"The pace of GDP growth has already been lowered, and it won't reach the figure of 3.9%. Inflation is below the target rate, which will lead to a reduction in nominal GDP [in 2012]. All of these factors will be taken into account during budget planning," Poroshenko said.

He also said that GDP growth at 3.5% was "a baseline from which we proceed while calculating GDP in 2013."

Poroshenko expressed hope that it would be possible to hold additional consultations this week and present a macroeconomic forecast for 2013-2014 next week.

Ukrinform