18 Nov 2014 12:10

PM says Ukraine's GDP may drop 7% in 2014

KYIV. Nov 18 (Interfax) - Ukraine's agricultural sector may expand by 5% in 2014, while the country's GDP is expected to decline by 7% as fighting continues in its eastern regions, Prime Minister Arseniy Yatsenyuk has said.

"Ukraine's agricultural sector is the only sector of the economy that is showing growth of up to 5%. Another positive piece of news is that our ranking in ease of doing business has improved by 16 points. However, a negative thing is that our GDP may potentially contract by 7%," he said at a Ukrainian-Norwegian forum in Kyiv on Tuesday.

The Ukrainian government expects the country's economy to stabilize in the first half of 2015, Yatsenyuk said.