22 Jul 2011 15:32

EBRD improves GDP growth forecast to 5%, worsens inflation forecast to 9%

KYIV. July 23 (Interfax) - The European Bank of Reconstruction and Development (EBRD) has revised its macroeconomic forecasts for Ukraine and increased its GDP growth forecast by 0.5 of percentage point to 5%, the bank said on its website.

According to the bank, its inflation forecast (year to year) for 2011 was worsened from 7.8% to 9%.

The EBRD's forecast for Ukraine's budget deficit this year has been retained a 3.6% of GDP.

It was earlier reported that Ukraine's government expects GDP growth this year at 4.7% with inflation at 8.9%. According to Prime Minister Mykola Azarov, GDP growth in January-June 2011 came to 4.4%.