- June 22, 2015
- Posted by: admin
- Category: Business
In the global financial meltdown, Ukraine was severely affected and it took considerable amount of effort to revive the economy in 2010. However, various aspects of the economy once again began to shed off the colors when Russia annexed Crimea in 2014; it is estimated that the GDP fell by a staggering 6.8% putting Ukraine back in the black hole.
At present, Ukraine’s economy stands as the world’s slowest economy with 2015’s GDP at -7.50%. Fueling the current state of deprivation is the fact that political corruption and inefficient reforms prevail despite the crises.
Source: World Bank, CIA World Factbook