Ukraine's real gross domestic product (GDP), excluding the temporarily occupied territory of the Autonomous Republic of Crimea and Sevastopol, in the first quarter of 2014 decreased compared to the same period last year by 1.2 percent, while in the second quarter the drop was 4.6 percent, the State Statistics Service has said.
Earlier the assessment of the GDP decline in the first quarter was 1.1 percent, while in the second – the same 4.6 percent.
The service said that the calculation of the GDP dynamics was done in constant prices of 2010 under the 2008 system of national accounts.
Under these new conditions and excluding Crimea, the agency also calculated data for 2011-2013, according to which the country’s economy in 2012-2013 grew by 0.2 percent annually, and in 2011 the GDP growth was 5.5 percent.
According to the previously released data, in constant prices of 2007 the GDP growth in 2013 was zero, in 2012 – 0.3 percent, and in 2011 – 5.2 percent.
The Ukrainian authorities in July worsened the forecast for the fall of the economy in 2014 from 5 percent to 6.5 percent, but the head of the National Bank in September said it could decline by 9-10 percent.
