Ukraine's GDP growth in 2012 to be up to 1%, says president

Ukraine's GDP growth in 2012 will total up to 1%, which is lower than the budget forecasted indicators, Ukrainian President Viktor Yanukovych has said.

"According to preliminary assessments of the government for the year, it is expected that GDP will be up to 1%, while the budget for 2012 foresaw 3.9% of GDP growth," the head of state said at a meeting of the Council of Regions on Tuesday.

The president said that due to the smaller GDP growth, the budget deficit this year will reach 2.6% of GDP, which is more than the budget forecasted indicator of 1.7% of GDP.

As reported, referring to the State Statistics Service, Ukraine's GDP in the third quarter of 2012 fell by 1.3% year-over-year, while in the first quarter it grew by 2% and in the second it rose by 3%.