As per results of 2015, Ukraine’s GPD decline will slow to 10.4% versus 17.2% in the 1^st quarter, as it is said in the report of the Cabinet of Ministers about the progress and results of fulfilment of the program of government activities in 2015, Economic Truth reports.

“As a result of the implementation of anti-crisis policy in the 2^nd half of 2015, which was accompanied by diminishing intensity of military actions in the east of Ukraine, macroeconomic stabilization with gradual activation of production activities, recovery of interindustry links, improvement of consumer and entrepreneurial spirits has been achieved”, as it is said in the report.

As it is noted, the result was the growth of GDP in the 3^rd quarter of 2015 for the first time for two years on the quarter-by-quarter basis. Thus, if in the 1^st quarter of 2015 GDP decline was 5.3%, then in the 3^rd quarter GPD increased by 0.5%.

As per evaluations of the Ministry of Economic Development, in the 4^th quarter of 2015 GPD increase is expected to be by 0.2% on the quarter-by-quarter basis.

According to the report, as per results of 2015 GPD decline will slow to 10.4% versus 17.2% in the 1^st quarter.

“Production decline in the industry will slow from 21.3% to 13.4% at the beginning of the year. The relevant dynamics was also observed in transport and trade”, as it is noted in the report.

“In general, the military conflict in the east of Ukraine has found the production vulnerability of economic system of the specified region as well as the economy of the country in total”, as the government says.

As per evaluations of the Ministry of Economic Development, more than 40% of negative contribution to GDP dynamics is connected with situation in Donetsk and Luhansk regions.

“Yes, not taking into consideration the influence of specified regions, as per results of 2015 GDP decline would be 5.9%, industry – 5.2%, agricultural production – 2.9%, construction – 9.1%”, - as it is forecast by the Cabinet of Ministers.

As per IMF forecasts, in 2015 Ukraine’s GDP will decline by 11%. The international rating agency Fitch also worsened the forecast for Ukraine’s GPD decline from 9% to 10% as per results of 2015.

Previously the new Head of the European Business Association Krzysztof Siedlecki stated that the growth of Ukrainian economy by 1-2% in 2016 is zero.

“But 1-2% is zero. We are sitting in the pit… if the process of reforms goes with those tempos, as it does now, so when is Ukraine going to emerge from crisis? For the last two years Ukrainian economy demonstrated minus 25% of GPD. This is a disaster.  There is no other way of calling it”.