The European Bank for Reconstruction and Development (EBRD) forecasts the fall of Ukraine's GDP by 4.5 percent this year. The data is mentioned in the report.
"Ukraine’s GDP will fall by 4.5 per cent in 2020 as a result of global coronavirus-related shocks and following slower industrial growth recorded in late 2019 to early 2020 according to the latest macroeconomic survey published by the European Bank for Reconstruction and Development (EBRD) today. The Bank is expecting Ukraine’s economy to bounce back to growth of 5.0 per cent in 2021.", reads the message on the website.
The report claims that Ukraine faced a high price of refunding the debt in the international financial markets.
The EBRD added that the dometsic and external demand due to public healtchare restrictions that were taken in Ukraine, caused a negative impact on the sectors of production and services.
"The macro-financial fundamentals remain relatively strong and able to absorb external shocks with record-high level of foreign reserves and the lowest policy rate for six years", the Bank explained.