Economic development ministry raises real GDP growth forecast for 2011 by 0.3 percentage points to 5.4%
2011-08-05 15:09:42
The Ministry of Economic Development and Trade has increased the forecast of the average value of Ukraine's real GDP growth in 2011 by 0.3 percentage points against May's forecast up to 5.4%. These data were presented at a seminar on macroeconomic forecasting, the press-service of the ministry reported.
"Experts' attention was focused on discussing the dynamics of private consumption, the volume of which, according to analysts, will continue to increase despite the rise in consumer sentiments during the final part of the 2012 European Football Championship, gradual recovery of consumer lending, as well as through meeting pent-up demand in conditions of the continued growth of incomes," the report reads.
Earlier, the European Bank for Reconstruction and Development raised its forecast for GDP growth in Ukraine in 2011 by 0.5 percentage points up to 5%, compared with the May forecast.
According to the State Statistics Service, GDP growth in Ukraine in the 2nd quarter of 2011 was 3.8% against the 2nd quarter of 2010 (in constant prices of 2007).
GDP growth in the 2nd quarter against the 1st quarter of 2011 was 0.5%, taking into account seasonal factors.