NBU estimates GDP growth for January 2011 at 6%
2011-02-24 18:31:31
Growth in real GDP in Ukraine in January 2011 amounted to less than 6% in annual terms, according to an analysis of the economic situation in Ukraine (January 2011) of the National Bank of Ukraine (NBU).
The report notes that the index of the production of the main industries is continuing to grow in 2011 - an increase in January was 9.3% in annual terms.
"The favorable external economic environment stimulated the development of industrial production (9.7% in January), in particular, the chemical and petrochemical industry, engineering and metallurgy (28.5%, 27.8% and 13.3% respectively)," the NBU said.
According to the estimates of the National Bank of Ukraine, under the influence of temporary factors, industrial production dropped by 2.1%, except for the seasonal factor: "Thus, the refusal by Belarus to import Ukrainian electricity in January due to high prices, as well as administrative control over the level of prices for certain food products, have been weighty factors for a reduction in the production of electricity and food industry (2.9% and 0.3% respectively).
The National Bank of Ukraine also said that the revival of investment activity, which began late in the third quarter of 2010, had influenced the figures for construction this year - growth in construction work in January was 6.1%.
Earlier, Prime Minister Mykola Azarov predicted that GDP would grow by 4% in 2011 and that inflation would be moderate.
Ukraine's GDP growth in 2010 was 4.2% compared to 2009.