War Aggravates Economic Problems

UKRAINE - Report 26 Aug 2014 by Vladimir Dubrovskiy and Dmytro Boyarchuk
Executive Summary Intensified fighting around Donetsk and Luhansk triggered a 12.1% y/y industrial output slump in July.The Luhansk oblast reported a 56% y/y decline in industrial production, while the Donetsk oblast’s output fell 28.5% y/y that month.In August, military forces intensified their operations, as the Ukrainian Army shut down the last supply lines from Russia to Donetsk. The Kremlin responded by bringing more regular Army squads into the fray, to open a few alternate pathways to Donetsk. As daily reports from the front detail serious destruction, and loss of human life, we shou...

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