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Economy looks grim

05.12.2014 | kyivweekly.com

The Cabinet expects a 7% decline in GDP this year, Premier Areseniy Yatsenyuk during a government meeting. He said forecasts for the fall of Ukraine’s economy were 10%. “Technically, such predictions are even slightly better. We expect 7% rather than 10%,” said Yatsenyuk. He stressed that 3% is a serious rate, but still the economy remains “negative”.

The National Bank of Ukraine (NBU) predicts a 7/3% fall in GDP, and the World Bank predicts 8% by the end of the year because of the events in the Donbas.

As it was reported previously, in January – October 2014 the state budget of Ukraine was fulfilled with a deficit of UAH 53.8 bn.

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