2008–2009 Ukrainian financial crisis

[9] The second Tymoshenko Government had predicted GDP growth of 0.4% in 2009 and a slowdown in inflation to 9.5% (also in 2009), although the overwhelming majority of economists considered this forecast to be excessively optimistic.

[10] Analysts say the reasons for the crises were slumping steel prices, local banking problems and the cutting of Russian gas supply of January 2009.

[11][12] This made key industries such as metallurgy and machine building lay off workers, and real wages started to fall for the first time in a decade.

[15] According to David Heslam of Fitch ratings "At the root of the problem is Ukraine's inconsistent macroeconomic policy framework, as the authorities are aiming to defend the exchange rate while avoiding necessary fiscal tightening in the absence of adequate sources of non-monetary financing".

about a half of all Ukrainians polled (47%) answered President of Ukraine Viktor Yushchenko, and 22% blamed Prime Minister of Ukraine Yulia Tymoshenko, while 17% of the respondents thought that the Verkhovna Rada was also responsible for the lack of progress in solving economic problems.

[6] The share of problem loans in bank portfolios grew to 10.3 percent by 11 December 2008 and is continuing to grow.

[22] A total of 90.8% of those polled described their financial state as "making both ends meet" and 83.1% said they are short of money for food.

According to Olena Belan, analyst at Dragon Capital, "that is a good signal for investors, showing that Ukraine is taking anti-crisis measures and the economic situation is under control.

[37] On 1 November 2009 the International Monetary Fund (IMF) warned that it could cut financial assistance to Ukraine; managing director of the IMF Dominique Strauss-Kahn stated he was “very worried” with President Viktor Yushchenko’s decision to sign a bill adopting wage and pension increases.

[39] Ukraine's total foreign debt (state and corporate) had reached 93.5% of the 912.563 billion Hryvnya GDP in March 2010;[40] late February 2010 the Ukrainian Finance Ministry had reported that the country's total state debt by early 2010 was to 32.9% of the GDP.

[43] The Ukrainian economy recovered in the first quarter of 2010 due to stronger-than-expected growth in the global economy, driven primarily by emerging Asia and Latin America, larger social transfers to the population approved in the 2010 budget law and a lower price for imported natural gas (due to the 2010 Ukrainian–Russian Naval Base for Natural Gas treaty).