Ukraine Experience Second Month of Deflation
Following inflation in the Ukraine that had peaked at 60.9% year on year in April, the country is now experiencing month on month deflation.
Statistics for June show that month on month deflation was 0.4%, with the previous month showing deflation of 1%.
Inflation in the Ukraine for the first eight months of 2015 is 38.2%, with government forecasts predicting that it will fall to 26.7% for 2015 by the end of the year.
The country’s budget takes into account that GDP in the Ukraine will fall by 5.5% this year.
The IMF, who are currently working with the country offering it a loan package, has considerably worse predictions than government forecasts. They say that 2015 will see a fall in GDP of 9%, with inflation for the year being 45.8%.
President Petro Poroshenko has taken credit for the fall in inflation. Speaking in Kiew, he added that the restructuring of debt to private creditors by his government has opened economic opportunities for the country.
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