Ukraine's GDP growth slows in first quarter year-on-year

Ukraine`s economic growth slowed to 2 percent year-on-year in the first quarter this year from 5.4 percent in the same period in 2011, the State Statistics Service said Tuesday, according to Xinhua.

However, this was faster than economists expected, it said.

A State Statistics Service poll of local economists in April forecast growth of 1.8 percent in the first three months this year.

The country`s nominal gross domestic product (GDP) amounted to 37.121 billion U.S. dollars in the first quarter of 2012, the agency reported.

The country`s GDP increased by 5.2 percent in 2011, up 1 percent year-on-year and the government is projecting growth of 5-6 percent in 2012.