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Ukraine's Economy Contracts Massive 17.6% in One Quarter

Economy has been shrinking for 15 months straight now


This post first appeared on Russia Insider


Ukraine's economy contracted for the fifth straight quarter by a near record 17.6 percent comparing to the same quarter last year.

There are no signs of a turnaround with the government in Kiev predicting 5.5 percent annual drop in the size of the economy.

<figcaption>No signs of recovery</figcaption>
No signs of recovery

Inflation is anticipated at 26.7 percent, but these are considered conservative estimates with many experts expecting a much grimmer picture in the near future.

With the loss of industrial heartland in Eastern Ukraine due to the civil war, Ukraine's economy has taken a nosedive, and the country is currently negotiating with foreign creditors on restructuring part of its debt load.


 


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