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EBRD forecasts Ukraine’s GDP decrease by 9% in 2014

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EBRD forecasts Ukraine’s GDP decrease by 9% in 2014

The European Bank for Reconstruction and Development has downgraded the forecast of development of the Ukrainian economy.
Thus, the GDP of Ukraine will decrease by 9% in 2014, while in May the bank predicted the GDP decrease at the level of 7%, according to the EBRD.

The bank specified that the forecast is based on the fact that Ukraine has not reached the agreement on renewing gas supply with Russia.

“Ukraine will face enormous difficulties without gas supplies from Russia when the winter comes,” noted the bank.

In addition, the EBRD expects the declining of the Ukrainian economy by 3% in 2015.

As Capital reported, the EBRD predicted the declining of the Ukrainian economy by 7% in 2014. Moreover, Ukraine expects the economic stagnation in 2015, according to the bank.

Source: TASS
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