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Financial Freefall: Fitch Predicts Ukrainian Economy to Drop by Another 9%

Author: Ayre от 24.06.2015, 05:00
(голосов: 1)
A man stands next to an advertising placard showing British pounds, US dollars and Ukrainian hryvnia banknotes in the Ukrainian capital Kiev

Fitch Ratings Inc. predicts a drop in the Ukrainian economy by 9% at the end of 2015. This prediction corresponds to the forecasts made by its main creditor countries, the International Monetary Fund and the European Bank for Reconstruction and Development.

As noted by the ratings organization, the economic drop will be accompanied by the devaluation of Ukraine’s currency, the hryvnia, down by 97% compared to 2014, and major inflation.

"The economic recession will take place against the backdrop of unresolved conflict in the east of the country, which will also remain a significant factor of the economic problems," read the statement released by the agency.


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