PM Shmygal predicts Ukraine's economic decline by almost 5% by end of 2020

Source : 112 Ukraine

According to him, this is the calculation on which the Cabinet based the state budget, and it cannot be called neither optimistic nor pessimistic
08:05, 31 March 2020


Prime Minister Denys Shmygal predicts that Ukraine's GDP will fall by 4.8% by the end of 2020. The head of the Ukrainian government announced this on the air of ICTV.

"When we did not anticipate the coronavirus epidemic, the optimistic forecast predicted 3.7 (percent growth rate – 112 International.). Now it is minus 4.8," Shmygal said.

Related: We do not know how long economic crisis may last, - Ukraine’s PM

According to the prime minister, this is the calculation on which the Cabinet based the state budget, and it can be called neither optimistic nor pessimistic. Such a macro forecast is agreed by all Ukrainian institutions, organizations, and economists.

As we reported earlier, Ukraine's Cabinet of Ministers refreshed its macroeconomic forecast

"New figures on the Cabinet session have been approved. During the preparation of a new forecast, specialists of the Ministry of Economy conducted consultations with experts of the Finance Ministry, National Bank, the IMF, and independent analytical organizations. Perhaps, we're not fine with all figures, but we expect an improvement of the economic situation in the second half-year period," Prime Minister of Ukraine stated. 


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