The economy of Ukraine has contracted by 7% in the fourth quarter of 2009 over the same period the previous year. This was the smallest decline in gross domestic product (GDP) in the country last year, police Bloomberg. The main reason for this probably lies in increasing exports in the last months of 2009, which gives impetus to the industrial production of Eastern European countries. Preliminary statistics do not give details of individual components of GDP. For comparison, the GDP of Ukraine decreased more strongly by 15.9 percent in the third quarter, 17.8 percent in the second and 20.3 percent in the first three months of 2009. Ukraine plunged into recession in the fourth quarter of 2008, after the global economic crisis undermines demand for steel, which occupies a central place in its exports. Meanwhile, in 2009 require the Government to grant aid of 20 of the largest banks in the country. Ukrainian bracelet is impaired by 42% against the U.S. dollar since the beginning of September 2008 as the political crisis in the country has caused the IMF to stop to pay the loan from EUR 16,8 billion allocated last year to enable Ukraine to finance its budget. According to economists RBS Ukrainian economy remains in poor condition despite the appreciation of the metals and the depreciation of local currency last year. During today’s foreign exchange session one Ukrainian bracelet be exchanged for 8.0215 U.S. dollars.
Industrial production of Ukraine surged by 9.8 percent for the quarter to December, after having contracted by 22.8 percent for the previous three months. Most increased production of metals. The Ukrainian government expects a decline in GDP of 12-12,5% for the entire 2009