Ukrainian first semester GDP shrinks 16.3%
Ukrainian economics seems a shovel-full deeper into a downturn due to the geopolitical constrains
Ministry of Economic Development and Trade of Ukraine highlights that economic downturn, contributed to limiting gross domestic product growth rate – 16.3%. The main explication of such a downturn, voiced by the Ministry, seems to be quite obvious - baffling geopolitical situation.
Hryvnia devaluation and inflation remain downside risks in the economic environment, states the Ministry, highlighting concerns over a quite sharp decline in production. For example, the level of agricultural production decreased by 9.3%, industry production dropped to 20.5%, exports fell by 35.4%.
As was stated before, Ukraine expected budget deficit at 4.2 percent of GDP in 2015. In 2016, the financial experts are looking forward to its decline to 3.7% of GDP.
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