Ukraine to see 3-4% GDP growth in 2013, says Azarov

11:39, 23.01.2013 1 min read

Ukrainian Prime Minister Mykola Azarov has said Ukraine will achieve gross domestic product (GDP) growth of 3-4% with 3% inflation in 2013, despite the unfavorable economic situation on the world markets.

"Despite the unfavorable economic conditions in the world, Ukraine will achieve GDP growth of 3-4%, with 3% inflation in 2013, and it will have even higher pace of development in 2014," he said at a meeting of the Cabinet of Ministers in Kyiv on Wednesday.

As reported, the national budget of Ukraine for 2013 is based on a forecast of GDP growth of 3.4%.

In 2012 the government foresaw growth in GDP of 3.9% compared to 5.2% in 2011. However today the various estimates by experts of Ukraine's GDP growth vary from zero to 0.5-0.7% considering the falls seen in the third and fourth quarters.

The World Bank and the European Bank for Reconstruction and Development have downgraded their forecasts of GDP growth in Ukraine for 2013 to 2.5% and 1% respectively.

The 2013 national budget is based on an inflation forecast of 4.8%.