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GDP Growth Steady at 7.3% in 10M

GDP Growth Steady at 7.3% in 10M

14 November 2008

After posting 7.3% yoy growth in GDP in 9M07, the country maintained that pace to finish October, according to the State Statistics Committee. Acceleration in trade (up 17.2% yoy) and transportation (up 7.0% yoy) compensated for reduced tax revenues and a slowdown in agriculture. Nominal GDP during the period reached USD 111 bln, based on preliminary estimates. Economy Minister Anatoliy Kinakh said that he expects GDP growth in 2007 to be 7.2-7.3%, though the Cabinet of Minister’s official forecast remains 6.5%; our yearend forecast is 7.3%.

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