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President's Office predicts fall of Ukrainian economy by no more than 5% this year

Source : 112 Ukraine

Deputy Head of the Office Yulia Kovaliv recalled that the economy was initially expected to grow by 4%, and after the start of the pandemic, the forecast was adjusted to a drop of 7%
18:05, 28 November 2020

Deputy Head of the Office of the President of Ukraine Yulia Kovaliv
Unian

The Office of the President voiced optimistic expectations regarding the level of decline in the Ukrainian economy - no more than 5%. This forecast was presented by the Deputy Head of the President's Office Yulia Kovaliv on the air of Freedom of Speech show, reports RBC Ukraine.

“Already a month before the end of the year, we see that the expectations of a decline in economic development will not be so bad. The Ukrainian economy will not fall by more than 5%. And the 2% difference in GDP is quite significant, because we remember when 2 or 3 % growth was a significant achievement for us as a country, "said Kovaliv.

She recalled that the economy was initially expected to grow by 4%, and after the start of the pandemic, the forecast was adjusted to fall by 7%.

As reported in April this year, analysts of the International Monetary Fund (IMF) predict a 3% drop in the global economy in 2020 due to the coronavirus pandemic. And for Ukraine, in their opinion, the economic situation will be worse - a drop of 7.7%.

Related: Over 7,000 EU residence permits issued to Ukrainians in 2019

Earlier, Health Minister Maksym Stepanov stated that the introduction of a total lockdown could reduce the overall number of coronavirus cases in Ukraine to zero. On the other hand, the economic point of view must be taken into account. According to the official, the reason for the introduction of lockdown will be the epidemic situation and the burden on the medical system.

Related: Covid-19 in Kyiv: 1,739 cases observed over 24hrs

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