KIEV, May 8 – Ukraine's GDP will contract by 5% in 2014, reflecting weak investor and consumer confidence, while Ukraine’s economic prospects will improve in the medium-term., according to the Ukrainian government and the International Monetary Fund (IMF).

"Real GDP growth is expected to rebound to 2 percent in 2015, rising to 4-4.5 percent in the medium term," reads a press release of the IMF.