KIEV, Aug. 11 – Ukraine's real gross domestic product declined by 16.3% year-over-year in H1, but Ukraine is expected to see economic recovery in the second half of 2015 with the annual decline in 2015 being projected at 8.9%, the Economic Development and Trade Ministry said.

"In 2015, Ukraine's economy has been suffering from the geopolitical conflict most," the ministry said on Tuesday.

This includes the destruction of production facilities and transport infrastructure in the zone of the military conflict, the loss of intersectorial and logistics ties in domestic and foreign trade, and the aggravation of international relations with Russia, which has been a major trade partners. The situation is also complicated by the lack of coal, a considerable increase in investment risks and households' negative expectations.