The International Monetary Fund is forecasting that Ukraine's GDP will fall by 8-10 percent in 2009 if the authorities fail to take action.
First Deputy Finance Minister Ihor Umanskyi announced this to journalists.
“They are actually forecasting about -8 percentto -10 percenttoday if neither the government, the president, the parliament, nor the National Bank of Ukraine react to the challenges and fail to adopt decisions that would change the situation,” Umanskyi said.
He stressed that this is a preliminary forecast by the IMF and that it would be reviewed if the Cabinet of Ministers took certain steps.
As Ukrainian News earlier reported, the Cabinet of Ministers is forecasting that Ukraine’s GDP will grow by 0.4 percentin 2009.
The International Monetary Fund lowered its forecast for Ukraine’s GDP growth in 2009 from 2.5 percentto -5 percentin December 2008.
