AGL 34.48 Decreased By ▼ -0.72 (-2.05%)
AIRLINK 132.50 Increased By ▲ 9.27 (7.52%)
BOP 5.16 Increased By ▲ 0.12 (2.38%)
CNERGY 3.83 Decreased By ▼ -0.08 (-2.05%)
DCL 8.10 Decreased By ▼ -0.05 (-0.61%)
DFML 45.30 Increased By ▲ 1.08 (2.44%)
DGKC 75.90 Increased By ▲ 1.55 (2.08%)
FCCL 24.85 Increased By ▲ 0.38 (1.55%)
FFBL 44.18 Decreased By ▼ -4.02 (-8.34%)
FFL 8.80 Increased By ▲ 0.02 (0.23%)
HUBC 144.00 Decreased By ▼ -1.85 (-1.27%)
HUMNL 10.52 Decreased By ▼ -0.33 (-3.04%)
KEL 4.00 No Change ▼ 0.00 (0%)
KOSM 7.74 Decreased By ▼ -0.26 (-3.25%)
MLCF 33.25 Increased By ▲ 0.45 (1.37%)
NBP 56.50 Decreased By ▼ -0.65 (-1.14%)
OGDC 141.00 Decreased By ▼ -4.35 (-2.99%)
PAEL 25.70 Decreased By ▼ -0.05 (-0.19%)
PIBTL 5.74 Decreased By ▼ -0.02 (-0.35%)
PPL 112.74 Decreased By ▼ -4.06 (-3.48%)
PRL 24.08 Increased By ▲ 0.08 (0.33%)
PTC 11.19 Increased By ▲ 0.14 (1.27%)
SEARL 58.50 Increased By ▲ 0.09 (0.15%)
TELE 7.42 Decreased By ▼ -0.07 (-0.93%)
TOMCL 41.00 Decreased By ▼ -0.10 (-0.24%)
TPLP 8.23 Decreased By ▼ -0.08 (-0.96%)
TREET 15.14 Decreased By ▼ -0.06 (-0.39%)
TRG 56.10 Increased By ▲ 0.90 (1.63%)
UNITY 27.70 Decreased By ▼ -0.15 (-0.54%)
WTL 1.31 Decreased By ▼ -0.03 (-2.24%)
BR100 8,615 Increased By 43.5 (0.51%)
BR30 26,900 Decreased By -375.9 (-1.38%)
KSE100 82,074 Increased By 615.2 (0.76%)
KSE30 26,034 Increased By 234.5 (0.91%)

Ukrainian Prime Minister Yulia Tymoshenko easily survived a no confidence vote in parliament on Thursday after rejecting IMF predictions of a shrinking economy and sticking to her government's growth forecast of 0.4 percent. The motion, put forward by the opposition Regions Party of ex-premier Viktor Yanukovich, won 203 votes in the 450-seat assembly, well short of the 226 required to pass.
With less than a year to go before a presidential election, the outcome strengthened Tymoshenko's position ahead of what she said would be a cabinet reshuffle next week. Only one confidence vote can be submitted per session under the constitution and she cannot now be voted out of office until at least autumn. Speaking outside the chamber, Tymoshenko told reporters the result amounted to a "resolution of trust in the government".
The prime minister, whose government is underpinned by a coalition of three groups, said before the vote that political will was needed to face down those predicting negative growth, including the International Monetary Fund. The economy grew 2.1 percent last year. "Ukraine plans for 0.4 percent growth in gross domestic product in 2009, whereas the IMF proposed a forecast of minus five percent," Tymoshenko, sporting her trademark peasant braid, told deputies.
"The government did not agree with such a forecast. It is simply too easy to become reconciled to a fall. I believe Ukraine is strong, with resources and reserves and if the proper actions are taken at this difficult time, we can achieve this indicator as planned."
The global economic crisis has slashed demand for Ukraine's chemical and steel exports. Industrial output dropped 20-30 percent year-on-year at the end of 2008. Analyst Volodymyr Fesenko of the Penta think tank said the vote "will allow Tymoshenko to work quietly for a time and protect her against rearguard attacks from parliament. She still faces some strategic risks, but these are linked not so much to politics as to the social and economic crisis."

Copyright Reuters, 2009

Comments

Comments are closed.