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Ukrainian economy continues to slide — Ukraine's minister

February 06, 2015, 13:36 UTC+3 KIEV
The minister said that the country is unlikely to receive any big investment in the nearest future
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© Valentin Sprinchak/TASS

KIEV, February 6. /TASS/. The Ukrainian economy has slid into deep recession, and the situation is only worsening, the country’s Economic Development and Trade Minister Aivaras Abromavichus said on Friday.

"Last year the economy dropped by 7%. This year it continues to slide as the National Bank’s reserves shrank, the currency has also been diving, but the new cabinet will do its best to stabilize the situation next year," Abromavichus was cited as saying by the Ukrainian mass media.

The minister added that the country is unlikely to receive any big investment in the nearest future, though he pins big hopes on the donor conference on Ukraine due to be held in April.

He also said that the IMF program will help stabilize the current situation in Ukraine’s banking sector, restore the National Bank’s reserves and regain the lost trust to the country’s banks and economy as a whole.

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