16 August 2010

UKRAINE: Economy Surges By 6% In Q2; Most Since 2008.

BLOOM/    Ukraine's GDP accelerated in Q2 by 6% from a year earlier, the most since the second quarter of 2008. “Buoyant economic growth in the second quarter was driven primarily by exports,” said economis Olena Bilan. Ukraine is resisting efforts to curtail wheat exports because of the severe drought even though it's most recent production forecast was cut by 15% to 17 million tons. Ukraine is the world's largest exporter of barley and the sixth-biggest of wheat. The country has exported 21 million tons of grain up to to June. Ukraine's cabinet will discuss whether to cut exports at a meeting this week.