The Ukraine economy is on the brink of collapse after the International Monetary Fund (IMF) identified a $15 billion shortfall in government funding that will need to be plugged “within weeks”, according to the Financial Times. The shortfall comes after Ukraine’s gross domestic product (GDP) fell by 5.3% in the third quarter of 2014 as the country, the State Statistics Service reported on Wednesday. This comes a drop of 4.7% in the second quarter and a 1.1% contraction in Q1. In short, the country is in deep trouble. Analysts are predicting a total contraction of around 7% through 2014 as …read more
Source: Business Insider
