FX.co ★ Ukraine inflation exceeds 21%

By November 2014 the inflation in Ukraine had risen to 21%. The information came from head of the National Bank of Ukraine (NBU) Valeria Gontareva, RIA Novosti reports. At the same time, Ukraine’s GDP dropped 7.5%.
According to the NBU, devaluation of the hryvnia is 100% compared to other currencies. At the meeting with journalists, Ms. Gontareva said that the major macroeconomic indicators in Ukraine stuck at the levels of 2008.
‘The situation in Ukraine’s economy is the worst in 50 years. Only the World War II got it worse’ the head of the National Bank said.
Gontareva said that the main reasons of the economic collapse in Ukraine include the war in Donbass, Crimea secession, and panic among the Ukrainian people and businessmen.
Earlier the Ukraine’s government had forecasted the GDP to fall by 5% only. In November the Prime Minister Arseniy Yatsenyuk mentioned the GDP was expected to shrink by 7%.