Ukraine GDP grows 7.2% in October: PM

Ukraine's gross domestic product (GDP) grew 7.2 percent in October year-on-year, showing that the country has "broken the slide into economic abyss," Ukrainian Prime Minister Mykola Azarov said here Wednesday. "The statistics show that the main indicators of socio-economic development in the first 10 months of 2011 are optimistic too," the prime minister added while opening a government meeting. He said Ukraine has recovered from a severe recession. The East European state's economy expanded 5.3 percent during the January-October period. The industrial production grew 8.2 percent, while the agricultural sector grew 16.2 percent. Azarov said that the real estate and construction markets also showed signs of recovery. Pension benefits and salary fund have grown significantly too, Azarov said. He said that the national economy is expected to grow 4.7 percent this year and may expand 6.5 percent in 2012.