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World Bank sees Ukrainian economy shrinking by 8% in 2014

[KIEV] The Ukrainian economy is likely to shrink by 8 per cent this year because of the effect of the separatist war in Ukraine's eastern regions, the World Bank's chief representative in Ukraine said on Thursday.

The bank had previously expected Ukrainian gross domestic product to contract by 5 per cent this year.

"Disruption in economic activity in the east has resulted in a sharper GDP decline. We project that GDP will be an 8 per cent decline in 2014," Qimiao Fan told reporters. - Reuters