Ukraine’s GDP decreased by 11.4% in Q2 2020 – State Statistics Service

The gross domestic product (GDP) of Ukraine in the second quarter of 2020 decreased by 11.4% compared to the second quarter of 2019, according to data provided by the State Statistics Service.

Compared to the first quarter of 2020, Ukraine’s GDP in the second quarter of this year fell by 9.9% (seasonally adjusted).

As Ukrinform reported, the Ministry of Economic Development, Trade, and Agriculture believes that a 4.8% reduction in Ukraine's GDP in 2020 looks quite realistic. On August 10, the Economy Ministry published a consensus forecast on the topic 'The impact of COVID-19 on the economy and society - post-pandemic development', according to which GDP is expected to fall by 6% this year.

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