The economy of Ukraine fell by 16 percent in 2015, after falling 7 percent in 2014, and thus made the country into Europe's poorest measured by GDP per capita.
It appears from the assessment by the World Trade Organization, WTO, which today presented Ukraine's trade policy condition.
Ukraine was hit hard by the global financial crisis in 2008.
Then came the unrest that led to President Viktor Yanukovych being toppled, and Ukraine looked to the West.
Then came the civil war against the separatists in the east, the Russian invasion of, and annexation of the Crimean peninsula.
The gross domestic product fell by 7 percent in 2014 and 17 per cent last year, according to the WTO.
Recently it was reported that Moldova is Europe's poorest countries with a GDP of $1,740 per capita.
The new figures from the WTO, however, show that Ukraine now passes Moldova's lows and has become Europe's poorest.
GDP in Ukraine was in 2015 under $1,000 per capita.
However, the country's president Petro Poroshenko, does not suffer personally. As one of the country's richest men he is even among those who are mentioned in the "Panama Papers."
DON'T MISS A POST - FOLLOW US ON FACEBOOK!
Comments at Speisa are unmoderated. We do believe in free speech, but posts using foul language, as well as abusive, hateful, libelous and genocidal posts, will be deleted if seen. However, if a comment remains on the site, it in no way constitutes an endorsement by Speisa of the sentiments contained therein.comments powered by Disqus
Polish authorities confirm discovery of urban legend Nazi train
Last week two treasure hunters found something they claimed was a hidden Nazi train from WWII full of gold, treasures and weapons.