Ukraine's real GDP growth in 2011 accelerated to almost 5% from 4.2% in 2010, Ukrainian Premier Mykola Azarov said, opening a cabinet meeting in Kyiv on Wednesday.
He said that the balanced monetary policy of the National Bank of Ukraine (NBU) and the budget policy of the government allowed reaching a record low inflation level in the country – 4.6%.
"Real wages grew by 8.5%, and this is the largest indicator in the CIS states," Azarov said.
In the middle of December the Ukrainian premier said that GDP growth in January-November 2011 came to 5.3%.
He said that according to tentative assessment, nominal GDP totaled Hr 1.177 trillion, including Hr 119 billion in November alone.
The State Statistics Service of Ukraine published only information on the quarterly pace of Ukraine’s GDP.
According to the service, the growth pace accelerated from 3.8% in the second quarter and 5.3% in the first quarter to 6.6% in the third quarter.
Azarov also added that the deficit of Ukraine’s national budget in 2011 will reach 1.7% of GDP.
He said that last year the government managed to achieve a break in the pace of the state debt and start their reduction.
Azarov said that in 2011, Ukraine’s direct state debt narrowed to 27.4% of GDP from some 30% of GDP in 2010.
He added that this is especially important, taking into account the fact that the largest payments for state debt are to be performed in 2012-2013.
