KIEV, March 18 – The growth of Ukraine's gross domestic product will slow down to 4% in 2011 from 4.2% in 2010, while inflation (December over December) will accelerate to 11% from 9.1%, according to Moody's Investors Service.

The deficit of Ukraine's consolidated budget in 2011 is expected to shrink to 4% of GDP from 6% of GDP in 2010 and 9% of GDP in 2009, Moody's said.

Moody's also projects the growth of state debt in 2011 at 40.5% of GDP against 40% registered late in 2010, 35.1% of GDP in 2009, and 14.5% of GDP late in 2008.