13:46 28.08.2014

Ukraine's GDP fall reaches 7.7% in Jan-July 2014, to accelerate to 6% in 2014, says ministry

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Ukraine's GDP fall in January-July 2014 tentatively fell by 3.3% year-over-year and it could accelerate to 6% by the end of the year, First Deputy Economic Development and Trade Ministry of Ukraine Anatoliy Maksiuta has said.

"We expect that this year real GDP will be minus 6%. These are the indicators of the present situation," he said at a briefing in Kyiv on Thursday.

"One should understand that the situation is developing and it could change upwards or downwards," he said.

As reported, in late July, the State Statistics Service tentatively assessed Ukraine's GDP fall at 4.7% in Q2, 2014 year-over-year, while in Q1, 2014 GDP was down by 1.1%.

In 2013, Ukraine's GDP growth was zero, while in 2012 it slowed to 0.2%, from 5.2% in 2011.

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