Ukraine '08 Inflation To Hit 23 Pct: President

KIEV, Ukraine -- Inflation in Ukraine should hit 23 percent in 2008, President Viktor Yushchenko said, up from 16.6 percent last year.

Inflation in Ukraine should hit 23 percent in 2008.

"In analytic terms, inflation of 23 percent is expected," Yushchenko told 1+1 television in an interview broadcast late on Sunday. "Rises in producer prices will be somewhat higher, in the area of 27-30 percent."

The president acknowledged that price rises had slowed in recent months, but not enough to meet the government's initial inflation forecast of 15.9 percent for the year.

This figure has already been exceeded, with cumulative price rises standing at 18 percent after 10 months.

The deputy head of the central bank, Oleksander Savchenko, last week predicted an inflation rate of 20 percent for 2008, declining to 10 to 17 percent next year.

Ukraine's memorandum with the International Monetary Fund to secure a $16.4 billion loan, signed last month, calls for inflation of 17.0 percent in 2009 with a rate of 25.5 percent forecast for 2008.

Source: Guardian UK

Comments

ajm said…
The people of Ukraine are long hard suffers. From the time of Stallin to now, they have worked hard to improve the country for their children. Inflation of 20-23-percent is a direct result of the RADA and the present administration. |||||||How long must they suffer. If they will...and I hope ..turn west...please pray for the country AJM