Ukraine has a 7.5% economic decline in 2014: NBU's head

30 December 2014 13:59
(QHA) -

The Head of Ukrainian National Bank estimates that the Ukrainian economy contracted by 7.5%, during almost 100% hryvnia depreciation and accumulating macroeconomic imbalances.

The Ukrainian economy will contract by 7.5% in 2014. Such an assessment was expressed by the NBU head, Valeriya Gontareva, ZN reports.

"The GDP decrease will be 7.5%," – said the official at a press conference on Tuesday, 30, December. Mrs Gontareva pointed out that a slowdown in the decline of GDP had been marked by the end of the year. Earlier the decrease was nearly 9%.

She also added that the January-November's inflation was 21.2%.

NBU's Head has also named this year as "the most difficult in the past 50 years."

"We inherited a country with a huge macroeconomic imbalance accumulated... Then there was the annexation of the Crimea, the bloody war in the Donbas" – commented the official, adding that imbalances continue to accumulate in the banking system.