Ukraine's GDP may fall by 4-8% this year – government program

Ukraine's GDP may fall by 4-8% this year – government program

Ukrinform
The economy of Ukraine could fall by 4-8% in 2020 compared to 2019 as a result of the coronavirus pandemic.

This is stated in the updated Action Program of the Cabinet of Ministers of Ukraine, published on the Government portal.

"The negative impact of the pandemic is amplified by the onset of a global economic recession, which could hit the well-being of the population. According to forecasts of the International Monetary Fund, the global economy is expected to fall by 3%. In turn, Ukraine is traditionally more vulnerable to economic shocks, and therefore it could feel a more significant impact: GDP may fall by 4-8% compared to 2019," the document says.

As Ukrinform reported, according to preliminary estimates of the National Bank of Ukraine, the economy may fall by 6-7% in 2020.

ish


Let’s get started read our news at facebook messenger > > > Click here for subscribe

While citing and using any materials on the Internet, links to the website ukrinform.net not lower than the first paragraph are mandatory. In addition, citing the translated materials of foreign media outlets is possible only if there is a link to the website ukrinform.net and to the website of a foreign media outlet. Citing and using materials in offline media, mobile apps, Smart TV are allowed only with written permission from Ukrinform. News and publications marked as "Advertisement" and "PR" and articles in the section "Releases" include promoted content, and an advertiser is responsible for the content.

© 2015-2020 Ukrinform. All rights reserved.

Website design Studio Laconica

Extended searchHide extended search
By period:
-