Ukraine PM eyes 3.5% GDP growth in 2013

Ukrainian Prime Minister Mykola Azarov said Thursday that the country will aim for an economic growth of over 3.5 percent in 2013, compared with 1 percent in 2012. The prime minister made the forecast on the country's gross domestic product (GDP) growth while he mapped out the agenda at his government's first meeting in the new year. "We need to step up efforts to promote economic growth and get GDP growth to more than 3.5 percent in 2013," Azarov said. Azarov called for more efforts to improve investment climate, effectively implement deregulation and create mechanisms for the promotion of investment. Ukraine's President Viktor Yanukovych said last week the economy is expected to grow by 1 percent in 2012, down from a previous estimation of 3.9 percent. According to the state budget of Ukraine for 2013, the nation's GDP will grow by 3.4 percent while inflation is expected to stand at 4.8 percent and deficit will be at 3.2 percent of GDP.