Government to revise Ukraine's GDP growth forecast for 2012 by second reading of national budget

The Ukrainian government is planning to revise the pace of Ukraine's GPD growth for 2012 by the time of the second reading of the bill on the national budget, First Deputy Finance Minister of Ukraine, Anatoliy Miarkovsky said at a briefing last week.

"The forecasts for the development of all economic sectors next year are being revaluated. A more conservative [assessment] model is being proposed and [a slower] pace of growth in Ukraine," he said.

Miarkovsky said that the Finance Ministry would take into account the projections of the International Monetary Fund (IMF), according to which Ukraine's GPD growth in 2012 will reach 3.9%.

"We'll support the idea of conservatism and review the indicators during the preparation of the bill on the national budget for 2012 at second reading," he said, adding that in the present situation the government should take a more realistic position.