WB predicts Ukraine decline in GDP growth

The World Bank predicts that GDP growth in Ukraine will be 4% in 2011 compared to 2010, when GDP grew by 4.3%. Referred to the materials of the World Bank, UNIAN. A significant increase in steel prices and recovery in exports, helped by an increase in external demand, allowed Ukraine to ensure growth in 2010 after a sharp decline of GDP by 15,1% in 2009. In addition, the resumption of cooperation with the International Monetary Fund helped to restore market access of foreign capital. "The projected slowdown in 2011 reflects the application of planned austerity measures in the framework of macroeconomic policy under the IMF program and the expected decrease in external demand, particularly in Russia and the European Union - Ukraine's key export markets", - stated in the materials. At the same time in the UK believe that the abolition of Ukraine's export restrictions would increase the growth rate of GDP over the medium term. "In 2012, an increase in external demand is expected to become the basis for accelerating the pace of GDP growth of 4,5%. Medium-term growth prospects have improved would be if Ukraine is to eliminate existing restrictions on exports (quotas for grains and the delay in VAT refunds) and would speed up structural reforms "- described in the materials. As is known, the draft budget for 2011 laid down GDP growth of 4,5%. The Prime Minister Mykola Azarov earlier stressed that the optimistic scenario, GDP growth next year could reach 6%. Ministry of Industry