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Daily Insight-Real GDP in 1Q11; natural gas price talks reinstated; EBRD pledges to invest EUR1bn annually; grain news

According to Prime Minister Mykola Azarov. in 1Q11, the growth of Ukraine's real GDP exceeded 5% YoY, on the basis of statistical estimates. The PM's earlier announced figures for real GDP growth in 2M11 were at 5.5%, including 6% in February alone (as the country's statistical office publishes data on a quarterly basis only). Yesterday, we reported that the NBU gave a preliminary assessment of Ukraine's real GDP growth in March at 5% YoY. The 1Q11 data therefore show acceleration of growth, both on a YoY and QoQ basis, i.e., compared with 4Q10 (when real GDP grew 3.3%) and with 1Q10 (when it grew 4.8%).According to Prime Minister Mykola Azarov. in 1Q11, the growth of Ukraine's real GDP exceeded 5% YoY, on the basis of statistical estimates. The PM's earlier announced figures for real GDP growth in 2M11 were at 5.5%, including 6% in February alone (as the country's statistical office publishes data on a quarterly basis only). Yesterday, we reported that the NBU gave a preliminary assessment of Ukraine's real GDP growth in March at 5% YoY. The 1Q11 data therefore show acceleration of growth, both on a YoY and QoQ basis, i.e., compared with 4Q10 (when real GDP grew 3.3%) and with 1Q10 (when it grew 4.8%).

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