KIEV, Jan. 18 - Ukraine's economic growth slowed down to 2.4% on the year in 2005 compared with 12.3% expansion recorded in 2004 amid a decline in capital investments, the State Statistics Committee said Wednesday.

The investment fell after the government of former Prime Minister Yulia Tymoshenko had launched a campaign to return 3,000 private businesses to state ownership because of problems during the privatization.