Weekly Export Risk Outlook, September 18

09.19.2014 ZF English

The economic sanctions against Russia will have a lasting impact on the country's economy and the GDP is now expected to contract by 0.6% this year, Euler Hermes noted in its Weekly Export Risk Outlook report.

The crisis will have an even deeper impact on Ukraine's economy, which is now predicted to contract by nearly 7% in 2014.

In the second quarter, the GDP fell 4.6% year-on-year (down 1.1 compared with Q1), driven by a huge 52% drop in gross investment, Euler Hermes noted in its report.