GDP: The Institute upgraded its estimate of the real GDP growth to 4.3% in 2010 and 4.9% in 2011.
Fiscal Indicators: The fiscal pressure will remain high in 2010 and 2011, which would result in fiscal tightening. However, we expect Ukrainian Government to fulfil fiscal targets envisaged in new IMF Stand-By Arrangement. In particular, consolidated fiscal deficit is forecasted at 4.6% of GDP in 2010 and 3.3% in 2011 not taking into account funds required for banks’ recapitalization.
