Total Free Fall: Ukraine Economy To Plunge 7% In 2014, No Growth In 2015 – 14 May 2014

RT logo​Ukraine’s economy, heading for darker depths than previously estimated, will contract seven percent this year and may not expand at all in 2015, the European Bank for Reconstruction and Development (EBRD) said in a new report.

“Ukraine’s economy is going through a painful macroeconomic adjustment with high short-term costs for growth,” the report says.

The EBRD slashed Ukraine’s growth forecast by 8.5 percent, as their last report estimated a 1.5 percent expansion in 2014.

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