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IMF predicts GDP decline in Ukraine by 7.7% in 2020

Source : 112 Ukraine

The global economy may fall by 3% due to Covid-19
18:52, 14 April 2020

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The analytics of the International Monetary Fund (IMF) predicts the global fallout in 2020 for 3% due to the coronavirus pandemic. For Ukraine, the economic crisis will be worse – the fall for 7.7% as the IMF report states.

According to the experts, after the sharp fall of the GDP in 2020, the economy will grow by 3.6% in 2021. Besides, the 2020 inflation may make 4.5% and 7.2% the next year. Besides, the situation with unemployment will deteriorate. In comparison with 2019, it will increase by 1.6% - up to 10.1% and it can reduce up to 9.3% in 2021.

Related: IMF Head speaks on current state of world’s economic crisis

The analytics specified that such rates are possible in case if coronavirus pandemic will be overcome in the second half of the year and the restrictive measures will be abolished gradually.

According to such a scenario, the world economy will increase by 5.8% in 2021 along with the stabilizing of economic activity. However, the IMF does not exclude the risks of more serious consequences of the pandemic.

Related: WTO predicts decline in world trade by 13-32% amid Covid-19 pandemic

Earlier, the European Union decided to provide the assistance package to Ukraine in the sum of €80 million to facilitate the influence of crisis with coronavirus on the healthcare system, lives of people and economy.



 

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