Economic development ministry marks down inflation forecast to 8.9% in 2011
2011-08-05 15:02:06
The Economic Development and Trade Ministry downs its inflation forecast in Ukraine in 2011 by 0.3 percentage points to 8.9%, those data were made public at the macroeconomic forecasting a seminar, the ministry's press service informs.
In addition, the Ministry presented its forecast of main macroeconomic indexes for the medium-term period of 2013-2014.
The ministry prognosticates the GDP growth rate within 3.4% tо 7.3% over this period (consensus value - 5.9%). It is expected that the main lever of the economic growth will be expansion of investment demand: the average value of real investment growth (12.1% with index variation from 3.2% tо 21%) exceeds real increment of private consumption (7% with variation from 4.2% tо 11%).
"According to analysts, in the medium-term perspective, both the state and economic subjects pay greater attention to renewal of fixed assets, modernization of production, rising of scientific-technical potential and strengthening of competitiveness," the statement reads.
According to the State Statistics Committee, inflation in Ukraine made up 5.9% over six months of 2011.
In June, inflation made up 0.4%, in annual terms - 11.6%.