GDP Maintains 7.9% Growth in 6M07

In January-June, GDP grew 7.9% yoy, after posting the same growth in 5M07 and 4M07. This month’s growth was mainly driven by a rise in agriculture (5.7% in 6M07 versus 2.3% in 5M07), where the hot summer led to an earlier harvest. We think that in autumn GDP growth will slow down. Our yearend GDP growth forecast is 7.3% yoy for 2007.