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«AgroInvest» — News — EBRD raises its GDP growth forecast for Ukraine in 2011 by 0.5 percentage points

EBRD raises its GDP growth forecast for Ukraine in 2011 by 0.5 percentage points

2011-07-25 14:05:25

The European Bank for Reconstruction and Development raised its GDP growth forecast for Ukraine in 2011 by 0.5 percentage points up to 5%, compared with the May forecast. This is stated in a press release of the bank.

The Ukrainian economy continues to recover from the crisis, with a growth stemming mostly from the domestic demand, EBRD says. In July 2011, Parliament approved a pension reform, which should strengthen state balance and support capital market development, the bank noted.

However, a profound reform of the energy sector as a key to the future tranche of the IMF under the stand-by program still faces political resistance. Inflation remains high, largely due to the impact of recent developments in the global energy market and higher food prices, the press release says.

EBRD left unchanged GDP growth forecast for 2012 at 4.5%. EBRD also raised its forecast for inflation in Ukraine in 2011 to 9%. Previously, analysts expected a rate of 7.8%.

nrcu.gov.ua