Ukraine's economy is falling 2 times faster than predicted
The Ukrainian economy is falling twice as fast as the government predicted; by the end of the year the fall will be 11-12% of GDP. This is evidenced by the reports of the IMF and the World Bank.
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Thus, the IMF mission that visited Ukraine, following the trip, revised the forecast for the economic decline: “The fall of the country’s economy in the first half of the year turned out to be more significant than expected, and therefore the mission decided to revise the forecast in 2015 to 11%.” At the same time, back in May the organization believed that this figure would remain at 5,5%.
In the World Bank's forecast, this figure is not so optimistic, but in general, it is similar to the IMF calculations - they believe that by the end of the year the GDP decline will be 12%.
“Thus, the 2015 state budget faces enormous difficulties. After all, it was calculated, as is known, on an optimistic scenario for economic development, that is, a drop in GDP by 5,5% and inflation of 26,7%. We will get minus 11-12% and inflation of 44%,” writes the publication “Ukraine is Young.”
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