KIEV, Sept. 23 – Inflation in Ukraine will not exceed 20% in 2008 and 17% in 2009, according to Ukrgazbank economist Oleksandr Okhrymenko.

"Real inflation in 2009 will be around 15-17%, this year it will be closer to 20%, but it won't exceed 20%," he said.

Okhrymenko said inflation is positive for business development.

"Inflation in Ukraine is not bad, this is a plus for the country's economy... Inflation is high prices, but also high wages, production development, the creation of new jobs and business development... Ukraine's economy has been in stagnation for a long time. At present, we see quicker GDP growth thanks to high inflation," he said.