Ukraine`s President discloses GDP forecast

19:09, 18 August 2006
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GDP is expected to be 7 percent in 2006

Ukraine`s GDP is expected to be 7 percent in 2006, Ukraine`s President Viktor Yushchenko told the 4th World Forum of Ukrainians in Kiev today, according to RBC.

According to Yushchenko, this is one of the best GDP rates. He added that in 2005 Ukraine raised $7.8bn in investment, and in the first quarter of 2006, compared with the same period in 2005, investment grew fourfold.

      Yushchenko also noted that budget revenue grew by 53 percent in 2005 against 2004, as the economy ceased to be grey. In the first half of 2006, budget revenue grew by 18 percent compared to the same period of 2005. In 2005, real salaries added 34 percent, and 31 percent on the first half of 2006. In January-July 2006, inflation amounted to 3.8 percent, which Yushchenko estimated as a "sound European inflation rate". In July 2006, GDP increased by 7.7 percent compared to July 2005.

      The government predicts GDP to rise by 6.5 percent in 2007, while inflation will amount to 7.5 percent.

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