Ukraine on track to recovery, economy minister says

“While the economy shrank by 20.3% in Q1 of 2009 compared to the same period in 2008, it slowed down by only 18% in Q2. All this happened while economic situation in the West was deteriorating,” the minister observed.

“We predict a 3% growth of the GDP in 2010,” he said.

As Ukraine’s economy is export-oriented, it is sensitive to foreign economic situation. At present, western markets have shown signs of recovery.

 “In this context, we have to use the opportunity and move our goods to Western markets,” Danylyshyn stressed.