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Ukraine GDP falls almost 10% in 2015

Ukraine GDP falls almost 10% in 2015

The general fall of Ukraine’s GDP in 2015 compared with the previous year (at constant 2010 prices), excluding the occupied Crimea and part of the zone of the Anti-Terrorist Operation, has accelerated from 6.8% to 9.9%, amounting to UAH 1.979 trillion at current prices, as reported on the website of the State Statistics Service of Ukraine, UNIAN reports.

According to the published data, in 1Q of 2015, GDP fell by 3.5% qoq, taking into account the seasonal factor, and by 17% yoycompared to the same quarter of the previous year. In 2Q of 2015 it was by 1.4% and 14.7%, respectively.

In the 3Q, the trend has changed, as the GDP grew by 1.1% to the previous quarter, but decreased by 7.2% compared to the same quarter of the previous year. 4Q 2015 saw the GDP rise 1.4% to the previous quarter, with a drop compared to the same quarter of the previous year slowing down to 1.4%.

Ukraine’s GDP in 2014 dropped by 6.8% compared with the previous year. Nominal GDP in general in 2014 amounted to UAH 1.567 trillion, which was UAH 1.365 trillion in the prices of the previous year.

The key creditor of Ukraine, the International Monetary Fund, forecasts GDP growth in Ukraine in 2016 by 2% with an inflation rate at 12%. The World Bank is more pessimistic in its forecasts, suggesting that Ukraine’s economy in 2016 will show growth of no more than 1%.

According to expert consensus forecast compiled by UNIAN, GDP growth in Ukraine in 2016 could reach 1%, while industrial production would grow by 3%, and the inflation – slow own to 19%.

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