News
09.10.2009
Ukraine GDP to decline about 15 percent this year
The Ukrainian Audit Chamber forecasts a GDP decline at the level of 15 to 16 percent this year, the chairman of the Audit Chamber, Valentin Simonenko, said on Wednesday when parliament discussed the implementation of the state budget in the first half of this year.
"According to our expert evaluation, GDP declined 18.3 percent in the first eight months of this year, and the decline will make up 15-16 percent on the results of 2009," the chairman said. He also said that inflation in the country is expected to make up at least 15 percent this year.
According to the Memorandum of Economic and Financial Policies of the Ukrainian authorities issued by the IMF in September, the forecast of Ukraine's GDP decline this year was changed from eight to 14 percent because of a more pessimistic as expected development of the world economy.
In the first quarter of this year, Ukraine's GDP declined 20.3 percent as compared with the same period last year.
ITAR-TASS
