Wednesday, April 1, 2009

After two months, the GDP of Ukraine fell by 30 per cent.

Gross domestic product (GDP) of Ukraine decreased in January-February 2009, at 30 per cent over the same period in 2008. The statement was made by Ukrainian President Viktor Yushchenko, speaking to the annual address to the Verkhovna Rada, the "RBK-Ukraine".
Yushchenko said that the names of these data, despite the fact that they were "carefully concealed". According to the Ukrainian president, the country faces "economic decline, deepening a political crisis and widespread social protests, but these processes can be avoided if the nation is united for the" overall progress. "
Earlier, the leader of the team of advisers chapter of National Bank of Ukraine Valery Litvitsky argued that the country's GDP in January 2009 fell by about 20 percent by January 2008. In January-February 2008, the country's GDP growth was 5.8 percent, and as a result of last year, GDP growth rates of Ukraine fell to 2.1 percent.
For comparison, in January-February 2009 in Russia was recorded declines in GDP at 8 per cent over the same period in 2008.
GDP, as a basic indicator of economic growth, assess the market value of all final products and services produced per year in all sectors of the economy in the state.
Recall that in February 2009 State Committee of Statistics of Ukraine refused to monthly publications of the dynamics of the GDP. Office announced that it will publish information on a quarterly basis. Ukrainian media said that this way the Ukrainian government hopes to hide the fact of the collapse of the economy.
Independent economists believe that the 2009 drop in GDP of Ukraine shall constitute 8-15 per cent. The government of Yulia Tymoshenko's planned growth - at 0.4 percent.
Later as it became known that Goskaznacheystvo of Ukraine from 24 February cease to publish data on the state budget for revenues. However, Yushchenko's secretariat said that they will publish their own information on the state budget.
In March, Tymoshenko said that Ukraine's economy has stopped falling, but in some industries in February, an increase was recorded in relation to January 2009. It should be noted that although promproizvodstvo in Ukraine in February 2009, actually rose by 5.4 percent compared with a month earlier, but compared to February 2008, the reduction rate was 31.6 percent.
Ukraine's economy stronger than any other Eastern European countries affected by the crisis. In particular, production in the country's steel mills, in fact, the main industry of Ukraine has become unprofitable because of falling metal prices.

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