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Ukraine's Economy Slows In 2005

Coal miners in Ukraine (file photo) 14 July 2005 (RFE/RL) -- The growth rate of Ukraine's economy has slowed to a sluggish 4 percent in the first six months of 2005 under the new government of President Viktor Yushchenko.

The government announced the statistics today. They show a sharp downturn from vigorous growth under the previous government over the same period one year earlier.

One of Yushchenko's campaign promises was to boost living standards and create 5 million new jobs.

Dusan Vujovic of the World Bank's office for Ukraine said officials are not concerned by the statistics. He said the figures are preliminary and that they cover the summer months, which are typically slower.