Belarus, Ukraine moving out of recession

Belarus and Ukraine are showing signs of a recovery from the global financial meltdown, the latest data suggests.

"The country has exited the recession - this is the evaluation of the World Bank and the IMF" - Belarusian President Alexander Lukashenko said in a message to parliament and the nation.

According to Lukashenko, GDP growth in the first quarter was about 5% higher than in the same period last year.

The National Statistics Committee of Belarus said however that growth was about 4 %.

"The main aim of this year is to reach 11% GDP growth and we are confident that we will achieve this," Lukashenko said.

The situation with Ukraine is however more complex.

The chief consultant of Ukraine's National Bank, Valeriy Lytvytskiy, said that three branches of the real sector of the economy had been able to move out of recession in the first quarter of 2010, demonstrating an aggregate growth of 38% of GDP (10% in industry, 5.3% in agriculture and transport more than 16%).

At the same time, the situation was discouraging in the construction sector and trade, which registered a decline of 24% and 3.1%, respectively, in the first three months of the year.

Moreover, of special concern was the situation in capital investment, which declined more than 21% in the reporting period.

MINSK/KIEV, April 20, (RIA Novosti)


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