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Ukraine slashes GDP projection to 1pct for 2016
(MENAFN) Ukraine has lowered its forecast for the nation's gross domestic product (GDP) growth this year to 1pct, down from the prior 2pct estimation.
Deteriorating global prices on the Eastern Europe nation's main exports items; agricultural and metallurgy goods, paused as the main reason behind the cut.
Additionally, the Ukrainian economy declined 10.4 percent throughout the previous year after tumbling 6.8 percent in 2014, based on initial official data.
"Now, we only may talk about a 1-percent growth, not a 2-percent increase as it was estimated earlier," stated the country's Minister of Finance.
Deteriorating global prices on the Eastern Europe nation's main exports items; agricultural and metallurgy goods, paused as the main reason behind the cut.
Additionally, the Ukrainian economy declined 10.4 percent throughout the previous year after tumbling 6.8 percent in 2014, based on initial official data.
"Now, we only may talk about a 1-percent growth, not a 2-percent increase as it was estimated earlier," stated the country's Minister of Finance.
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