Economic decline rate in Ukraine not critical, - EBRD

Source : 112 Ukraine

The Bank believes that in 2021, the country's economy might recover, and there are all factors of development for that to happen
08:05, 25 September 2020


European Bank for Reconstruction and Development (EBRD) claims that the rate of economic decline in Ukraine makes approximately 4.5 percent, and it's not a critical rate. Iryna Novikova, the Deputy Director of EBRD in Ukraine said so at Lviv business forum, Ukrinform wrote.

"So far, by our estimates, the recession of the economy in Ukraine is about 4.5 percent; by the end of the year, it could grow to 5.5 percent. But our estimates are optimistic. We believe that next year, the economy in this country will recover, as there are all factors for development for that", she said.

Related: In 2020, Ukraine's GDP to fall by 4.5 percent, - EBRD

She added that while Covid-19 pandemic affects the economic growth in all countries, the situation in developing countries is not worse than that in the UK or Germany.

The official statistics and forecasts will be published by the EBRD in early October, when the gathering of stockholders is supposed to take place. Ukraine's representatives will be there, too.

Related: Zelensky held telephone conversation with EBRD leadership and secured financial support

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