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 Ukraine’s GDP Slump Hit Bottom - Finance Minister

Economic results of September suggest that the reduction of Ukraine's GDP has reached the bottom, Finance Minister Oleksandr Shlapak says.

"I have the impression that we have reached a certain bottom ... In the ninth month we won back 0.6% in GDP drop," Shlapak told the journalists, Censor.NET reports citing Interfax.

"In September compared to August of this year we have an increase of almost 4.5%," Shlapak said, but admitted that the GDP was still decreasing in September of this year compared to last year's.

Read also: Conflict Escalation in Ukraine Is One of Three Main Threats to Global Economy - IMF

The Minister noted that this change of dynamics exceeded the government's expectations.

"We can talk about the return to the forecast (for 2014 - ed.) minus 6.5% (from minus 9% - ed.)," Shlapak said.

According to the minister, the government will consider making further changes in the macroeconomic forecast for the current year based on October results.

In July, the Ukrainian authorities decreased the forecast of the economy slump in 2014 from 5% to 6.5%. Later, head of the National Bank of Ukraine Valeriia Hontareva said that the experts of the International Monetary Fund together with their Ukrainian colleagues were considering the expediency of decreasing the GDP slump forecast in 2014 to 8-10%.

According to the Ministry of Economic Development and Trade, the decrease of the GDP in January - July 2014 constituted 3.3% compared to the same period last year.


 
 
 
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