Ukraine's GDP over 2009 might fall by over 10% compared to 2008, Valeriy Lytvytsky, the head of the group of advisers to the National Bank of Ukraine governor, considers.
"This is my timid hypothesis that the fall will total 10%," Lytvytsky said at the press conference entitled "First Half Macroeconomics: Advantages and Disadvantages" at the Interfax-Ukraine news agency on Tuesday.
"The 2009 fall will be measured with a double figure, but it will not exceed the historic maximum figure in 1994 when the indicator was 22.9%," Lytvytsky said.
Along with this, Lytvytsky said that recession is slowing down: if in the first quarter of 2009 Ukraine's GDP fell by 20.3% compared to 2008, then in the second quarter the indicator was 18%.
"This is half pace forward," he said, adding that in spite of the improvement of economic indicators in the second quarter compared to the first one, it is not worth counting on "a vertical rise" in the fourth quarter of 2009 as revival could be gradual and similar to stagnation.
