: :inin Kyiv (EET)

Moody’s predicts 6% drop in Ukrainian economy

Moody’s international rating agency has predicted a slowdown in the fall of Ukraine’s GDP in 2015 to 6%, according to statement posted on Moody’s website.
“Moody’s expects Ukraine’s economy to contract by 7.5% in 2014 and by a further 6% in 2015, although the latter is subject to a high level of uncertainty depending on if and how the crisis is resolved,” reads the statement.
Moody’s expects the central government deficit to come in at around 5% of GDP in 2014. Moreover, Ukraine’s debt burden continues to rise. Moody’s estimates that the national currency depreciation would increase the country’s debt stock to 76% in 2014 and 79% in 2015.
As reported, the Cabinet of Ministers predicted the decline in GDP at 2-4.3% in the draft state budget for2015.

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