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Ukraine econmin says 2010 GDP could reach +3.7 pct

Published 09/11/2009, 08:59 AM
Updated 09/11/2009, 09:03 AM

KIEV, Sept 11 (Reuters) - Ukraine's economy ministry said on Friday gross domestic product (GDP) growth could reach as much as 3.7 percent next year from an expected contraction of 13-14 percent this year and growth of 2.1 percent last year. The government and the International Monetary Fund, which has a $16.4 billion loan programme with Ukraine, have both previously said the economy would grow 3.0 percent next year.

The government has to submit its 2010 budget draft to parliament by Tuesday and will be meeting on Saturday to discuss it and the key macroeconomic indicators on which its calculations are made.

Politicians, including former Finance Minister Viktor Pynzenyk who quit in February, attacked this year's budget as completely skewed because of a 0.4 percent growth forecast, when the GDP shrank over 20 percent in the first quarter.

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