EBRD: Economic downturn in Ukraine not critical

"If you look at a map of the world to indicate changes in the economy caused by [coronavirus] pandemic, the situation in developing countries is no worse than in developed countries such as the UK or Germany. So far, we estimate that the economic downturn in Ukraine is about 4.5%, it may grow to 5.5% by the end of the year. But our forecasts are optimistic. We believe that the country's economy will recover next year as there are all factors of development for this," Iryna Novikova, Deputy Director of EBRD in Ukraine, said at the Lviv Business Forum, an Ukrinform correspondent reports.

The EBRD representative also said that the data on economic indicators would be officially published at a shareholders' meeting in a week, which would be also attended by representatives of Ukraine.

The Lviv Business and Economic Forum, which took place in Lviv region on September 24, brought together the representatives of government agencies and local self-government bodies, leading banking institutions, successful entrepreneurs interested in the economic development of Ukraine. Representatives of international economic organizations and institutions, foreign financial and investment companies were also invited to participate.

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