KIEV, Nov. 19 – Kiev-based Concorde Capital Investment company has cut its forecast for Ukraine's real GDP growth in 2008 from 6.8% to 3.3% and expects that GDP will fall by 2% in 2009, according to a company press release, referring to its analysts.

The investment company said that the growth of the Ukrainian economy would resume only in 2010.

"The slump in industrial production in October, which was 19.8% year-over-year, will soon impact the service sphere, while the agriculture sector seems to be reacting rather stably to the economic crisis," the analysts said.