Ukraine’s Economy with Worst Slump in Europe

Ukraine’s 2009 GDP has declined by 15%, which is the worst slump among all European countries.

Ukraine’s State Statistical Committee announced Sunday, as cited by Lenta.ru, that in 2009, the GDP of the 46-million nation amounted to about USD 115 B, which is 85% of the 2008 GDP.

Earlier forecasts of the country’s audit office predicted a decline of 13,9%. In 2009, Ukraine’s state debt amounted to 35% of the GDP.

The Russian news site Lenta.ru points out that Ukraine’s economy is struggling as a result of a liquidity crisis caused by the global economic crisis, and the shard decline of Ukraine’s export.