KIEV, Sept. 15 – Ukraine's gross domestic product is expected to fall by 10-12% in 2009, according to the Economy Ministry.

"Given the presence of signs of stabilization in the development of certain sectors of the Ukrainian economy, the GDP fall could amount to 10-12% by the end of the year, if the [current] trends continue. This figure is the basis for calculating the major forecasted macroeconomic indicators for 2010," reads the statement.

The ministry has not given a specific GDP forecast for this year as the way the situation unfolds depends much on the actions of Parliament and the National Bank of Ukraine.