The European Bank for Reconstruction and Development (EBRD) worsened the forecast for Ukraine’s GDP decline to 11.5% in 2015. This information was published by the bank in the updated forecast, RBC-Ukraine (РБК-Украина) reports.
As per updated bank data, the forecast for country’s economic development for 2016 also worsened – 2% of GDP growth versus the previously forecast 3%.
According to EBRD, the Ukraine’s recession deepened in I and II quarters 2015. The country’s GDP decreased vs. the same period of the previous year by 17.2% and 14.6% respectively. “There is still a cautious hope that economy hit the bottom in the middle of 2015 and production volumes will stabilize in the second half of the year under local and regional risks, which remain significant. The IMF program is fully being performed”, as it is said in the report.
In its updated forecast the EBRD also notes that the economies of Ukraine, Belarus and Moldova are affected by regional trends in economic and security sphere as well as individual factors, existing in these countries.
