OREANDA-NEWS  On 09 September was announced, that yesterday, the idea that it is still premature to expect any fundamental overheating in the economy was additionally supported by the 2009 outlook of the Ministry of Economy of Ukraine submitted to the Cabinet for approval. According to this outlook, the GDP is expected at the level of 6%, while the next year inflation – at 9%. The GDP expected growth is higher than the recently published forecast made by S&P agency – just 2.5%. The experience has demonstrated that the forecasts prepared by domestic ministries are more accurate. Besides, the fact that Ukrainian Eurobonds were especially inexpensive in the last few days was confirmed by their prices surge with low probability of default.

The yesterday growth of the stock market, unfortunately, to the greater extent was stipulated by the global news influence, which effect is of a short-term nature as well. While the oil prices decline will support some markets today, the perspectives of deteriorating consumers sentiments in the USA awaiting for their confirmation on Friday after publication of data on retail commerce growth, may give an impetus to the markets to withdraw capital from the global largest economy. This will lead to weakening dollar and stimulate searches for new markets for investments. In this connection the Ukrainian market has chances to demonstrate both by financials of the companies and overall industrial data that the current market is rather underestimated. Although it will unlikely happen today, the upward market movement after publication of industrial output data, expected on Thursday, may well take place.