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Ukraine Tops Falling GDP List
World Economy

Ukraine Tops Falling GDP List

Ukraine topped the ranking with a shrinking GDP as a result of the conflicts in Donbass. Bloomberg forecasts that the Ukrainian GDP will drop to -4% by the end of 2015. Russia follows with GDP shrinking to -3.5% by the end of the year as a result of the Ukrainian conflict, international sanctions and oil crisis. Brazil took the third place with GDP dropping to -1.6%. The economic situation in the country is affected by inflation of the local currency and growing unemployment. A similar situation is observed in Argentina (-1.5%). The remaining six countries on the list have their GDP rates in positive values. However, the growth level is not as high as the state officials promised. These countries include Kazakhstan, Switzerland, Croatia, Serbia, Greece and Italy. “Kazakhstan, whose biggest trading partner is Russia, is now expected to grow 1.2%, having plunged from the 3.6% economists projected three months ago,” Michelle Jamrisko and Catarina Saraiva of Bloomberg wrote.

 

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