In the third quarter of the year, Ukrainian GDP fell by 7% compared to the third quarter of 2014 according to the state’s statistic office. 

Seasonally adjusted, GDP in the Ukraine fell by 0.7% in the third quarter compared to the previous quarter.

The number was slightly worse then State’s Statistics Service’s September prediction of a 0.5% decline over the quarter, compared to the previous quarter.

Earlier in the month, Prime Minister, Arseniy Yatsenyuk, said he was ‘looking forward’ to the statistics, as his indications suggested a 1% increase compared to the second quarter was possible.

He said the positive number would ring in a new era, where Ukraine will experience economic growth throughout 2016.

A positive prediction was also given in September by the Head of the National Bank (NBU), Valeriya Gontareva.