KIEV, April 6 - International rating agency Standard & Poor's is maintaining its current GDP growth forecast in Ukraine in 2011 at 4%, but it expects the dynamics of economic development in Ukraine in 2012 will rise to 4.5%.

"According to our forecasts for 2011 GDP growth is of around 4%. However, we believe that Ukraine remains vulnerable to adverse market conditions as a result of structural weaknesses and imbalances, as well as the continued volatility of the trade balance ... In the short term, Ukraine still faces numerous economic difficulties," the S&P report reads.

S&P said that the additional negative factors hindering economic development, are: corruption, the existence of the "shadow economy" (about 50% of GDP), as well as the insecurity of property rights and widespread bureaucracy.