Ukraine's GDP fell 9.9% y/y in 2015

Ukraine's GDP fell 9.9% y/y in 2015

Ukraine's GDP fell 9.9% in 2015 according to revised figures / bne IntelliNews

By bne IntelliNews March 22, 2016

Ukraine's GDP decreased by 9.9% y/y in 2015, the State Statistics Service of Ukraine (Ukrstat) reported on March 21.

According to adjusted official data, Ukraine's GDP decline stood at -1.4% y/y in the fourth quarter of 2015, -7.2% y/y in the third, -14.7% y/y in the second, and -17% y/y in January-March.

On March 11, Ukrainian Finance Ministry published reviewed forecast for real GDP growth in 2016 from 2% to 1% y/y. The revision was caused by falling resource prices on the global markets, which could led to lower fiscal collections.

According to erlier estimates of the Economy Ministry, GDP for the first half of 2016 will demonstrate 0% y/y growth, mainly because of "a new wave of Russia's economic aggression".

Ukraine's prospects for growth this year are poor after a political crisis has in effect suspended an IMF aid program. Ukraine was supposed to receive $1.7bn in February, but transfers have been halted due to the lack of progress in fighting corruption and the slow pace of reform.

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