Ukraine's GDP slides by 1.1% in Q2, says Statistics Service

10:32, 31.07.2013 1 min read

Ukraine's GDP in the second quarter of 2013 fell by 1.1% year-over-year, the same as in the first quarter of 2013.

Compared to the first quarter of 2013, given seasonal factors, GDP in the second quarter decreased by 0.4%, the State Statistics Service reported on Tuesday evening.

No further information, including about the nominal GDP, was published.

As reported, the Ukrainian economy, according to the State Statistics Service, in 2012 slowed down its growth to 0.2% from 5.2% a year ago. While in the first and second quarters of last year GDP grew by 2.2% and 3% respectively, then in the third and fourth quarters the decline amounted to 1.3% and 2.5% respectively.

In the first quarter of 2013, Ukraine's GDP compared to the first quarter of 2012 fell by 1.1%, while the 2013 national budget is based on the forecast of GDP growth at 3.4%.

The International Monetary Fund in mid-April 2013 downgraded the forecast for GDP dynamics in Ukraine in 2013 to zero from 3.5% in October 2012. The EBRD expects Ukraine's economy to fall by 0.5% this year.