Ukraine’s GDP decline in the second quarter of 2014 compared to the same period last year accelerated to 4.7%, the State Statistics Service reported on Wednesday.
“Ukraine’s GDP in the second quarter of 2014 compared to the second quarter of 2013 (at constant prices in 2007) amounted to 95.3%,” a press release reads.
Compared to the first quarter of 2014 (seasonally adjusted), Ukraine’s economy shrank 2.3% in April-June.
A reminder that in the first quarter of 2014 Ukraine’s GDP decline stood at 1.1% compared to the same period last year and 2% – compared to the previous quarter.
The International Monetary Fund forecasts a drop in Ukraine’s GDP in 2014 by 6.5%.
The Ministry of Finance also expects that the decline will not exceed 6-6.5%.