Ukraine's Finance Ministry eyes 4.3 percent GDP contraction in 'difficult' 2015


  • World
  • Tuesday, 23 Dec 2014

Russia's Foreign Minister Sergei Lavrov speaks to media in a news conference during a meeting of foreign ministers from the Organization for Security and Cooperation in Europe (OSCE) in Basel December 5, 2014. REUTERS/Arnd Wiegmann

KIEV (Reuters) - Ukraine's Finance Minister forecast the economy will shrink by 4.3 percent next year and warned of the huge challenge of getting state finances in order, as she presented a draft budget to parliament on Tuesday.

A year of revolution and war with pro-Russian separatists has pushed the hryvnia currency to record lows and crippled the economy, which was already near bankruptcy after years of corruption and economic mismanagement.

Save 30% OFF The Star Digital Access

Monthly Plan

RM 13.90/month

RM 9.73/month

Billed as RM 9.73 for the 1st month, RM 13.90 thereafter.

Best Value

Annual Plan

RM 12.33/month

RM 8.63/month

Billed as RM 103.60 for the 1st year, RM 148 thereafter.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Next In World

4 injured in explosion and fire in Dutch city Utrecht
U.S. stocks close higher
Zelenskiy affirms Ukraine's commitment to peace after Trump's remarks
US envoy to UN: US stands by Iranian people, all options on table
Machado says she presented Trump with her Nobel Peace Prize medal
Brazil Supreme Court justice orders Bolsonaro's transfer to penitentiary complex
South Africa's Kruger National Park shuts after severe floods
Venezuela's Rodriguez proposes oil reform to ease investment
Czech PM Babis' government wins confidence vote as policies on budget, Ukraine shift
News Analysis: Britain's economy sees marginal growth in late 2025, underlying weaknesses persist

Others Also Read