News
25.01.2010
EBRD downgrades forecast for Ukraine GDP contraction in 2009 to 14.5%
The European Bank for Reconstruction and Development (EBRD) has downgraded the forecast for the fall of Ukraine's GDP in 2009 from 14% to 14.5%, the bank said in a statement on Friday.
However, the bank still believes Ukraine's GDP will grow 3% in 2010.
"Ukraine will likely begin to emerge from the deep contraction experienced in 2009 once the political situation settles after the presidential elections," the statement reads.
As reported, in October 2009, the EBRD said Ukraine's GDP would shrink 14% in 2009 compared with its earlier forecast of a 10% contraction. At the same time, the bank improved the forecast for Ukrainian GDP's growth in 2010 from zero to 3%.
lexisnexis.com
