Ministry of Economy Raised its 2007 Inflation Forecast

Anatoliy Kinakh, Economy Ministry of Economy of Ukraine said yesterday that his ministry raised its inflation forecast for 2007 from 7.5% to 14.5%. The Economy Ministry now anticipates GDP growth in 2008 to reach 7.0%. According to the Ukrainian Statistics Committee, CPI in 10M07 amounted to 11.7%. PPI totaled 18.3% in the same period. Polina Khomenko: We forecast that real GDP will increase by 7.3% next year. We are now reviewing our 2007 inflation projection; look for an a flash note soon and upgrade of our previous 12.5% forecast.