GDP grows 7.8% in Ukraine in June

KIEV, July 16 (RIA Novosti) - Ukraine's GDP grew 7.8% in June 2007 year-on-year and 7.9% in the first six months, a spokesman for the statistics committee said Monday.

GDP growth of some $58 billion in the first six months of 2007, followed a 15.5% increase in gross added value, a 13.7% hike in processing industries and an 11.8% growth in construction.

Last year, the country's GDP hit a historical maximum of $114.6 million, with 7.1% GDP growth. Inflation stood at 11.6% in 2006.

The Ukrainian economics ministry said its GDP forecast for 2007 would likely be reviewed up to 8%. Inflation is expected to total 7.5%-8.5% in 2007.

The country's Finance Ministry has forecast 2008 GDP growth and inflation at 7.2% and 6.8%, respectively.