According to preliminary data, the growth of gross domestic product (GDP) slowed to 1.5% over the first eight months of 2012, in comparison with 2% over the first seven months and 2.5% over the first six months of 2012.
“GDP growth has been preliminarily evaluated at 1.5% over this period
[January-August],” Ukrainian Prime Minister Mykola Azarov has said
while opening a meeting of the Cabinet of Ministers in Kyiv on
Wednesday, Sept. 19.
According to the premier, the slowdown of GDP growth is connected
with the recession in a number of countries and the closing up of
international goods and capital markets. He added that expensive energy
sources and the need to repay huge debts that were accumulated in
previous years also made a negative contribution to Ukraine’s economy.
The government in the national budget for 2012 foresaw growth of real GDP by 3.9% and inflation of 7.9%.
Average expert evaluation of the GDP growth in August 2012 dropped to 2.3% from 3.2% in April 2012.
According to the State Statistics Service, the country’s GDP grew by
2% in Q1, 2012, and to 3% in Q2, 2012. Deflation was 0.4% in
January-August.
