Ukraine GDP Growth Forecast Cut in Half in Poll of Economists - Bloomberg

Ukraine GDP Growth Forecast Cut in Half in Poll of Economists - Bloomberg:

"Ukraine’s economy will expand at less than half the pace initially projected for 2013, economists said as they slashed their forecasts for third-quarter growth.
Gross domestic product will rise 0.6 percent from a year earlier between July and September, 0.3 percent this year and 2.1 percent in 2014, according to the median estimate of 20 economists in a Bloomberg survey carried out Sept. 20-25. The previous poll, conducted June 21-26, had showed third-quarter growth of 2.5 percent and 0.7 percent and 3 percent expansion in 2013 and next year.
Ukraine is struggling with an economic contraction, a widening current-account gap, shrinking foreign reserves and trade restrictions from Russia, its biggest export market. Moody’s Investors Service cut Ukraine’s debt rating on Sept. 20 by one level to Caa1, seven steps below investment grade, citing growing political and economic risks and a lack of progress on an international bailout."

'via Blog this'