Ukraine suffered from the global financial crisis most of all among the countries of Eastern Europe and Central Asia. This is the data of the annual report of the European Bank for Reconstruction and Development (EBRD) on the state of the economies of its activities - post-communist states of Eastern Europe, Russia and Central Asia, reports Ukrainskaya pravda with reference to Deutsche Welle.

Out of 29 countries of EBRD Ukrainehas been included into TOP-5 , where the decline in gross domestic product per year will be double-digit – 14 percents. However, entry of Ukraine into WTO helped temper protectionist pressures of Ukrainian government during the crisis.

According to EBRD, the depth of the crisis in Ukraine is caused by several factors. In addition to the global financial crisis, it is the decline in demand for its products abroad, falling of international prices for steel and chemical fertilizers - the main articles of Ukrainian export, as well as rising prices for imported gas. Direct investments in the Ukrainian economy have declined for the first time in 10 years.

It is possible to achieve stable growth of the Ukrainian economy only through deep structural and institutional reforms, probably, in the context of further rapprochement with the European Union, is reported by EBRD. The Bank believes that one of the main tasks of Kyiv is the stabilization of the financial sector to allow banks recovering loans in the real estate sector. Authorities must also avoid transference of public debt into the real money and return deficit back to stable position. But the prospects of recovery the nearest time are being complicated by a low demand both in Ukraine and abroad, EBRD reports.