Economic Ministry To Revise GDP Forecast For 2005.

According to Economic Minister Serhii Teriokhin the ministry intends to lower its GDP growth forecast for 2005 from 8.2% to 8%. However, the annual inflation rate of 9.8% will remain unchanged. Concorde Capital: We have seen a steady decline in GDP growth rates since the start of the year from 6.5% yoy in January to 4.7% yoy in May. This growth tempo is less than half of what it was in 2004, 11.3% yoy in Jan-May. Falling in industrial output growth rates (from 8.4% yoy in January to 5.0% yoy in June) have driven down GDP figures in 2005. Our GDP growth estimates for 2005 stand at 7.0%.