16 Aug 2011 13:58

Ukraine's GDP soars 5% in 7 mths - PM

KYIV. Aug 16 (Interfax) - Ukraine's GDP growth in January-July 2011 accelerated to 5% year-on-year, according to Ukrainian Premier Mykola Azarov, who earlier predicated it would be 4% in January-June 2011.

"The country's GDP saw 5% growth in the first seven months," he said at an opening of the Barvysta Ukraina exhibition in Kyiv on Tuesday, referring to data from the State Statistics Service.

"We had almost 8% in July," he added. Azarov said that "our pace is good."

As reported, according to the State Statistics Service, Ukraine's GDP in Q2, 2011 grew by 3.8% year-over-year, and in Q1, 2011 the growth was 5.3%.

The Ukrainian government expects that Ukraine's GDP will grow by 4.7% in 2011 with 8.9% inflation.