Ministry of Economy forecasts GDP growth of 6% in 2009, CPI of 9.5%

According to Bohdan Danylyshyn, Ukraine’s Minister of Economy, the Ministry forecasts real GDP growth of 6% in 2009, and growth in consumer prices of 9.5% yoy. The Ministry predicts that consolidated budget income will make up USD 76.7 bln in 2009, and budget expenditures will reach USD 82.5 bln. Andrii Parkhomenko: We believe that, given the upcoming rise in the price of gas imported from Russia, the government’s CPI target of 9.5% is unachievable. We forecast CPI in 2009 to reach 15% yoy. GDP growth as expected by the Ministry is underestimated in our view – we forecast GDP to grow 6.5% yoy in 2009.