World Bank ups Ukraine `08 CPI forecast to 13.8 pct

10:02, 29 January 2008
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New adjustments might be needed

The World Bank on Monday raised its 2008 inflation forecast for Ukraine to 13.8 percent from its previous figure of 9.6 percent, according to Reuters.

Martin Raiser, a senior economic adviser to the bank in Ukraine, said new adjustments might be needed if the government proceeded with a planned $4 billion compensation for depositors who lost savings in Soviet-era deposits.

"If this truly does occur, we will be obliged to review our forecast because additional purchasing power will be transformed into inflation," he told a news conference.

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