KIEV—Ukraine’s economy could shrink by as much as 10% by year-end, the head of the Ukrainian central bank warned on Saturday.
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Valeria Gontareva, head of the National Bank of Ukraine, said the embattled country’s annual gross domestic product is contracting this year. “I think it will be minus 9% or even minus 10%,” Gontareva was cited in news reports as saying. Ukraine’s economy grew an estimated 0.4% last year, according to U.S. Central Intelligence Agency’s World Factbook,
Gontareva also was quoted as predicting a 35% drop in exports from Ukraine to Russia for the year. But she ruled out the possibility of debt default, the reports said.
The forecasts came as the central command center for Ukraine’s military campaign against pro-Russia rebels said fighting continued in the east, despite a cease fire agreed early this month
http://www.marketwatch.com/story/ukrain ... 2014-09-13