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National Bank of Ukraine considers 4% GDP growth realistic for 2010

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March 18, 2010, 4:42 p.m. | Business — by Interfax-Ukraine
The National Bank of Ukraine believes that forecasts on GDP growth for 2010, which were earlier prepared by the Yulia Tymoshenko's government, are realistic. The NBU's executive director for economic issues, Ihor Shumylo, gave this prognosis during an investment conference organized by the investment company Dragon Capital in Kyiv on Thursday. "The estimate that was sounded regarding GDP growth in 2010 against 2009 coming to 4% is quite balanced and realistic," he said.

It was earlier reported that the Ukrainian government approved a macroeconomic forecast in autumn 2009 that foresees 2010 GDP growth at 3.7% with inflation standing at 9.7%. After the change in the Ukrainian government in March 2010, the new Cabinet of Ministers started preparing a revised macroeconomic forecast.

According to the Presidential Administration, earlier government estimates, which could also be revised, forecast GDP growth this year at 3%-3.1% with inflation standing at 3%-3.1%

Ukraine' GDP in 2009 dropped by 15% in comparison with the previous year.
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