OREANDA-NEWS. On 20 August 2009 was announced, that according to preliminary estimation of the State Statistics Committee GDP drop accounted for 18%, y/y in 1H09, while unemployment reduced from 2.4% in June to 2.2% in July 2009.

Millennium Capital sees the news to be neutral, since the observed economic growth is rather extensive, which was based on the rich resource base of Ukraine. Namely, exports of iron ore and semi finished metal production as well as grain were increasing in 1H09, while capital investment in technology modernization were lower than in the previous year (UAH 66bn in 1H09 vs. UAH 92bn in 1H08).

Millennium Capital is an integrated financial services provider. Established in 2000 by a group of professionals with solid background in securities and corporate finance, Millennium Capital is now one of the major investment banking institutions.