The National Bank of Ukraine (NBU) estimates the decline of real gross domestic product (GDP) in Ukraine in the fourth quarter of 2015 at 3.2% in relation to the same period in 2014.


These data are shown in the presentation to the Inflationary Report, posted on the website of the central bank.


In general, the NBU estimates GDP fall in 2015 at 10.3-10.5%.


The National Bank in its report noted an unexpected increase in construction in December by 10.4% compared to December 2014 and the improvement of business expectations, which for the first time since the end of 2013exceeded 100%.


At the same time, positive changes were fully offset by a significant slowdown in retail turnover at the end of last year.


As reported, the NBU improved its forecast for the country’s GDP decline in 2015 to 10.6% from 11.5%. At the same time, the National Bank downgraded the outlook for the growth of real gross domestic product for 2016 to 1.1% from 2.4%.


Interfax Ukraine