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Dec 24, 2012

Economy to fall 1.3% in Q4 before rising 2-2.5% in 2013


Ukraine’s economy will fall 1.3% this quarter, before growing 2-2.5% next year, mainly thanks to growth in industry and agriculture, Dragon Capital CEO Tomas Fiala said.

"The fall [in GDP] in the first quarter came to some 1.3% and the same figure could be seen in the fourth quarter. It’s likely that the first two quarters [of 2013] will be negative due to the higher comparative base. We project that in the first half of 2013 the negative growth of 1-1.5% and the improvement in the second half of 2013 will be seen, as growth in foreign demand on our goods and the lower comparative base, which will give growth to the economy as a whole by 2-2.5% next year, is anticipated," Fiala told reporters on Thursday.

He said that next year the fall in the construction sector and industry will slow.

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