Ukraine’s GDP decreased by 2.1 percent in January 2016
Ministry of Trade and Economic Development released the report on its website
In January 2016, the overall index of production of goods and services lowered by 2.8 percent compared with January 2015, and the country’s GDP decreased by 2.1.
“The New Year once again proves that Ukraine’s economy holds firmly. Another phase of Russia’s economic aggression contributed to external stress factors. Trade and traffic restrictions by Russia that took place in January had strong impact on the production industry in Ukraine. After two subsequent quarters of the GDP growth, in early 2016, the GDP index started to deteriorate again”, reads the report.
The Ministry added that the only compensator of negative processes is saving of macroeconomic stability, which created an impetus for development of domestic market and kept positive expectations of investors and business partners.
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