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The Ministry of Economic Development and Trade of Ukraine in the first half of 2015 has estimated the GDP fall in the first half of 2015 at 16.3%, the decline of industry - at 20.5%, according to the Ministry’s website.
During this period, the volume of production in agriculture decreased by 9.3%, while consumer price inflation was at 39.3% compared with the beginning of the year (July to December), reads the report.
The volume of exports decreased by 35.4%, including to Russia - by 2.2 times. Real wages declined by 23.9%.
The Ministry also noted the stabilization of the economy in recent months, expecting the revival of economic activity in the H2 of 2015. In this regard, the ministry projects that the decline in GDP will slow down to 8.9% by the year end, while annual inflation is expected to reach 45.8% (December to December).
As UNIAN reported earlier, the fall of Ukraine's GDP in Q1 of 2015 compared to the Q1 of 2014 (at constant 2010 prices) amounted to 17.2%, according to the State Statistics Service of Ukraine.
The decline in industrial production in June 2015 compared to the same period of last year slowed down to 18.1% from 20.7% recorded in May.
The Cabinet of Ministers is considering three scenarios for the development of Ukraine's economy in 2015, according to which the fall of the country's GDP is expected to stay in the range between 11.9% to 5.5%.
According to the forecasts of the International Monetary Fund and the European Bank for Reconstruction and Development, Ukraine's GDP in 2015 will fall by 9%. The World Bank predicts a 7.5% GDP decline.