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Ukrainian government halves economic growth forecast for this year

Xinhua, March 11, 2016 Adjust font size:

The Ukrainian government has slashed its estimate for the country's gross domestic product (GDP) growth this year to 1 percent, down from an earlier projection of 2 percent, Finance Minister Natalie Jaresko announced on Thursday.

"Now, we only may talk about a 1-percent growth, not a 2-percent increase as it was estimated earlier," Jaresko said during the 12th Dragon Capital investment conference in Kiev.

As the main reason for the downward revision, Jaresko noted falling global prices on Ukraine's main exports items -- agricultural and metallurgy products.

According to the preliminary official data, last year, the Ukrainian economy fell 10.4 percent after edging down 6.8 percent in 2014. Endit