Ukraine's economy growing again - Azarov
KYIV. Aug 16 (Interfax) - Ukraine's economy has started growing again, and this trend will continue at least until the end of 2013, Ukrainian Prime Minister Mykola Azarov said.
"I can say that the State Statistics Committee published its data today: we have about 2.5% GDP growth in July," Azarov said on Facebook.
"And the GDP dynamic has leveled out over the first seven months. I think we will reach some GDP growth by the end of the year, however small it may be," Azarov said.
He stressed that Ukraine is not in danger of defaulting on its debts.
The State Statistics Committee reported at the end of July that Ukraine's GDP had declined 1.1% in the second quarter of 2013 from the second quarter of 2012, a trend that did not change after the first quarter of 2013.
In 2012, Ukraine's GDP growth slowed down to 0.2% from 5.2% a year before. In particular, Ukraine's economy grew 2.2% in the first and by 3% in the second quarter and then declined 1.3% in the third and 2.5% in the fourth quarter of 2012.
The Ukrainian State Statistics Committee stopped posting data on GDP fluctuations on a monthly basis several years ago and now reports only quarterly and yearly GDP data. On Friday, the State Statistics Committee published the data concerning performance in the construction, transport, agricultural, and retail trade sectors and is expected to publish the industrial sector data on Monday, August 19.
An August consensus forecast by a group of Ukrainian and international specialists under the auspices of the Ukrainian Economic Development Ministry shows that Ukraine's economy should grow by 0.1% in 2013 and 2.3% in 2014.
According to a consensus forecast Interfax-Ukraine made earlier this week after interviewing analysts from 10 investment companies and banks, Ukraine's GDP should decline by 0.2% in 2013.
The 2013 national budget was drawn up based on the presumption that Ukraine's GDP would grow by 3.4% to 1.576 trillion hryvni with 4.8% inflation, while the IMF recently revised its Ukrainian 2013 GDP growth forecast down to zero from 3.5%, and the EBRD expects the Ukrainian economy to decline by 0.5% in 2013.