Economy Ministry forecasts average GDP growth at 0.2-1.9% in 2009-2012

Ukraine’s Economy Minister forecasts a rise in GDP of 0.2-1.9% on average per year in 2009-2012, according to Interfax. The Economy Ministry said it estimated annual average CPI growth at 10.8-11.2% over the period. Andrii Parkhomenko: We forecast average GDP growth of 1.8% yoy over the period, with -12.0% yoy in 2009 and an average of 5.0% yoy over the next three years. As the global economy picks up, we believe Ukraine’s economy could rebound quite rapidly thanks to increase in exports benefiting from cheapened hryvnya. Moreover, Ukraine has a relatively low level of public debt burden – 33.2% of GDP in FY2009, by our estimates.