Ukraine might not see GDP growth for 2012 - Azarov
KYIV. Nov 27 (Interfax) - The worsening world trends have had a negative impact on the Ukrainian economy and further negative developments might halt the country's economic growth for this year, Prime Minister Mykola Azarov said at a congress of Ukraine's Federation of Employers in Kyiv on Tuesday.
"We were inclined toward economic growth of around 3.5% [for 2012]. It would be good if we have this plus at the end of the year," Azarov said.
It was reported recently that, according to a consensus forecast compiled by Ukraine's Ministry of Economic Development and Trade in November, based on expert estimates from 15 state and non-government organizations, GDP growth in the country is forecast at 1% for 2012 in contrast to an expert forecast in August, which put growth at 2.3%.
The World Bank released a forecast last week that put economic growth in the country at less than 2% for 2012.
The Ukrainian state budget for this year is based on a GDP growth forecast in real terms of 3.9%.
According to the Ukrainian State Statistics Committee, the country's GDP in the third quarter decreased by 1.3% year-on-year compared to 2% growth in the first quarter and 3% in the second quarter. GDP in the third quarter decreased by 1.2% compared to the second quarter with consideration of seasonal factors.
Ukraine's GDP increased by 5.2% in real terms for 2011.