The fall of Ukraine’s GDP in the third quarter slowed to 7%

Moscow. November 16. Ukraine’s GDP in the third quarter of 2015 decreased by 7% compared with the same period of 2014, while in the second quarter, the decline was 14.6%, in the first and 17.2%.

According to operational data, which was published by the State statistics service, compared with the second quarter of the current year in the third quarter had GDP growth of 0.7% (with consideration of seasonality).

The state budget of Ukraine for 2015 was originally built on the optimistic scenario of development of the situation providing for the decline in real GDP of 5.5% with inflation of 26.7%. However, the revision of the budget in the Parliament on 17 September was based on the forecast decline in GDP of 8.9% with an inflation rate of 45.8%. Subsequently, the NBU has lowered its forecast of falling of economy in the current year to 11.5%, and the world Bank to 12%.

The government and the national Bank expect the growth of Ukraine’s economy for the fourth quarter of 2015, largely due to a low base of comparison, and in 2016, they estimate that GDP will increase by 2-2. 4%.