Ukraine is gradually recovering from the economic crisis, Prime Minister Yulia Tymoshenko announced during yesterday's session of government.

According to Tymoshenko, industrial production grew by more than 3% from May to June and food production by 1% (June 2008-June 2009), signaling a gradually economic recovery.

“This means that there is hope that Ukraine has seen the worst of the effects of the global financial crisis on its economy and is starting to slowly revive its economic figures. For 4 months we have been seeing small and gradual economic growth,” she said.

According to the State Statistics Committee, in the first half of the year industrial production dropped by 31.1% in comparison with the same period last year. However, in June it recorded a 3.1% growth in production in comparison with the previous month. The mining industry increased output by 2.3%, processing industry by 3%, light industry by 14.2%, timber industry by 10.1%, machine-building by 6.9%, chemical industry by 4.2% and metallurgy by 1.1%.


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