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Monday, November 12, 2007

Monthly Economic Monitor Ukraine, September - October 2007

Monthly Economic Monitor Ukraine from Institute for Economic Research and Policy Consulting. Here is September and October issues.

October 2007

  • Preliminary election results: five parties will be represented in the new Parliament.

  • Real GDP growth decelerated to 7.5% yoy between January and August due to slowdown in agriculture value added.

  • The President blocked the privatisation of Odessa By-Port Plant and suspended the sales of oblenergo shares.

  • Current account deficit widened to USD 2.0 bn (3.4% GDP) in the first half of the year.

  • Central fiscal deficit went down to 1.0% of GDP in August, primarily due to under-execution of expenditures.

  • The Draft State Budget 2008: social standards are to be further increased.

  • Inflation accelerated to 14.4% yoy in September.

  • First Internet transaction took place at the PFTS.

September 2007

  • Parliamentary election campaign is going forward.

  • Real GDP grew at 7.7% yoy between January and July backed by still high agricultural growth.

  • The subordination of the National Commission on Communication Regulation remains unclear.

  • According to the Derzhkomstat, the positive service trade balance started to shrink due to lower volumes of gas transit through Ukraine.

  • In July the central fiscal deficit increased to 1.2% of GDP.

  • Although reduced, unemployment is still more widespread among females, youth, and rural population.

  • The NBU tries to impose new capital controls.

  • Inflation accelerated to 14.2% yoy in August.