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Ukraine Economy to Grow 5.5% Next Year, Premier Azarov Says

Ukraine’s economy will probably grow 5.5 percent next year, Prime Minister Mykola Azarov said today in Kiev, citing budget assumptions for the government’s 2012 spending plan.

Azarov also said the government is planning to cut the corporate tax rate to 21 percent next year. Deputy Premier Andriy Klyuev said at the same briefing that the inflation rate is forecast to be 7.9 percent next year while industrial output may grow an average 9 percent in 2013 and 2014.

Ukraine wants to cut borrowing 17.4 percent next year, Finance Minister Fedir Yaroshenko said, appearing with the other officials at a briefing to discuss the 2012 state budget before it is submitted to parliament.

To contact the reporter on this story: Daryna Krasnolutska in Kiev at dkrasnolutsk@bloomberg.net

To contact the editor responsible for this story: Balazs Penz at bpenz@bloomberg.net

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