KIEV, Nov. 6 – Ukraine's gross domestic product is expected to fall by 12% in 2009, forecasts Economy Minister Bohdan Danylyshyn.

"Despite the fact that we have a low comparative basis for the second half of 2008 and a certain revival of the economy seen from the second quarter, the [GDP] decline is most likely to be about 12% over the year in general," he said in an interview with the 2000 weekly.

According to him, such a cooling of the economy has undermined the resource basis of budgets of all the levels, but that this had been difficult to forecast when the national budget for 2009 was being drafted.