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Ukraine’s economics ministry expects 2014 inflation at 19%

July 25, 2014, 17:20 UTC+3 KIEV
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KIEV, July 25. /ITAR-TASS/. Ukraine’s ministry of economic development and trade said on Friday it expected an inflation rate of 19% in 2014.

“GDP fall in the first six months of the year will be three percent, and by the end of the year GDP will go further down by six percent and inflation will be 19%,” First Deputy Minister of Economic Development and Trade Anatoly Maksyuta told journalists, adding that since the beginning of the year consumer prices in Ukraine had increased by 11.6% while the national currency (hryvnia) had devaluated by more than 47%

He said key factors behind the worsening macroeconomic situation in the country were combat actions in its eastern regions and Russia’s trade sanctions that negatively impact foreign investment situation and hamper exports of Ukrainian-made machine-building and farming products.

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