News
01.06.2009
Recovery of Ukraine’s economy will begin in 3-4 months, Tymoshenko
Ukraine’s Prime Minister Yulia Tymoshenko predicts the country’s economy growth to begin recovering in three or four months.
“Yet three or four months, God grant, will be needed for us to consolidate a stability position, not to fall, (so that) to get the hryvnya consolidated. After then, a recovery and stabilization of the situation will begin step by step," she told an open government meeting devoted to solving problems of small- and medium-sized businesses (Kyiv, May 21).
“However we have to work, but not everything is normal in Parliament, neither in the authority,” added Yu. Tymoshenko.
Characterizing the banking sector situation, she said that about 20 banks had either ceased payments or pay with long delays. At the dame time, the Premier stated that the government together with the National Bank had outlined a banking system support strategy.
Reportedly, the fall in Ukraine’s industrial production was 31.8% in January / April 2009 against last year’s 3.1%.
The State Statistics Committee and the government have not announced the GDP behavior for the current year yet. It dropped by 8% in the fourth quarter of 2008 against a 6.2-6.4% increase for the first three quarters.
The government has not officially revised its forecast for this year’s GDP growth at 0.4% yet, though most experts predict the GDP to decrease by 8-10%.
