GDP Adds 8.3% yoy in 1Q07

According to preliminary data released by the Ministry of Economy, GDP growth was 8.3% yoy in 1Q07. GDP is growing consistently growth this year, following 8.6% yoy growth in 2M07 and 7.0% yoy growth in 2006. In other news, the International Monetary Fund improved its forecast for Ukraine’s GDP growth in 2007 to 5% yoy from 4.5%. The Cabinet of Ministers is forecasting the GDP to increase by 6.5% in 2007, based on state budget figures. Alexander Viktorov: Our forecast for GDP growth in 2007 is 7.5%.