Ukrainian PM expects zero GDP growth this year

GDP growth in Ukraine this year will be close to zero, Prime Minister Mykola Azarov said while opening a government meeting on Wednesday.

"We have avoided a drop in GDP and this year we will be close to zero compared to 2012," Azarov said.

Ukraine's state budget for this year was built on a forecast for real GDP growth of 3.4% with inflation at 4.8%, but the Economic Development and Trade Ministry acknowledged this month that the year will end showing about zero growth.

The International Monetary Fund predicted this month that Ukraine would post 0.3% GDP contraction this year.