Ukrainian economy may recover in 2010 - S&P

The Ukrainian economy may recover rather soon next year at the cost of exports, after a sharp decline of the gross domestic product in 2009, says Frank Gill, Standard & Poor's credit analyst for Russia, Kazakhstan and Ukraine.

In his words, Ukraine's GDP will grow 4.5% in 2010, when this year the economy is expected to decline by 12%.

Ukraine meets with a turmoil that could damage any other economy, Gill says adding, the prices of chemicals and steel sharply dropped lately, when the prices of imports are growing because of the rise in the tariffs on gas, and the national currency depreciation. At the same time, lasting political uncertainty remains an unfavorable factor for Ukraine, he said.

UKRINFORM