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NBU expects GDP to drop by another 4-5% in 2015

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NBU expects GDP to drop by another 4-5% in 2015

The National Bank of Ukraine predicts a decline in gross domestic product by 4-5% in 2015, stated Director of the Department of Monetary Policy and Economic Analysis at the NBU Serhiy Nikolaichuk.

«Last year, we predicted a drop of 6-7%. This year we expect a decline of 4-5%,» he said at a press conference.

In addition, Nikolaichuk says this year inflation is expected to reach 17.2%.

«Due to certain initiated measures the NBU expects a slowdown in inflation processes in the first half of the year, while the forecast at year-end is 17.2%,» he said, adding that in 2016 inflation may go down below 10%.

Earlier the EBRD downgraded its forecast for the GDP drop in Ukraine in 2015 to 5% compared to its previous estimate of 3%.

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