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Ukrainian economy shrinks 4.7 pct in Q2
Last Updated: 2014-07-30 17:21 | Xinhua
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Ukraine's gross domestic product (GDP) shrank by 4.7 percent year on year in the second quarter of 2014, the State Statistic Service said Wednesday.

This was the second consecutive quarter for the unrest-torn country's economic output to contract, and the result was worse than previously thought.

The Ukrainian Ministry of Economic Development and Trade previously estimated a 3-percent yearly decline in the April-June period.

Meanwhile, official figures released by the statistical agency suggested that the quarterly plunge of Ukraine's GDP was 2.3 percent.

Last year, Ukraine's economy stagnated, marking the end of three years of growth, and the country's nominal GDP stood at 180.7 billion US dollars.

The government expected the economy to contract by 6 to 6.5 percent this year.

 

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