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 Ukraine's GDP decreased by 7% in 2014 - Minister of Economy

Minister of Economic Development and Trade of Ukraine Aivaras Abromavicius estimated Ukraine's GDP decline in 2014 at 7% level.

He said this in his address in the Verkhovna Rada on Friday, Censor.NET reports citing Ukrainski Novyny.

"The country's economy is in a very grave condition at the moment... Real GDP decline in 2014 was almost 7%," the minister said.

Read more: Warsaw to decide lethal aid to Ukraine in coming days - Polish General Staff

Export of goods and services, according to Abromavicius, in 2014 decreased by almost 20%, and industrial production fell by 10%.

As reported, the National bank estimated last year GDP slide at 6.7%. In October-December of 2014, real GNP fell by 15.2% compared to similar period in 2013, according to operational data.

The Presidential Administration announced earlier that Ukraine's economy will recover to its 2014 level not earlier than in 2018.


 
 
 
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