Cold Showers Expose Budget Squeeze as Ukraine’s Coffers Run Dry

Cold Showers Expose Budget Squeeze as Ukraine’s Coffers Run Dry

Vincent Mundy/Bloomberg

The budget is based on projected economic growth of 3.4 percent, while the European Bank for Reconstruction and Development forecasts a 0.5 percent contraction as Europe’s debt crisis curbs demand for steel, Ukraine’s main export earner.