Ukraine’s economic decline is accelerating. <br /><br />The government says GDP contracted by 4.7 percent in the second quarter from the same period last year. <br /><br />That is as fighting between the army and pro-Russian separatists in the east took a heavy toll on industry and other economic activity.<br /><br />The two eastern regions where the conflict is raging usually contribute nearly 16 percent of Ukraine’s GDP.<br /><br />The economy may also take a hit from Western sanctions being imposed on Russia. <br /><br />The International Monetary Fund now sees Ukraine’s GDP falling by 6.5 percent this year.
