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Ukraine’s Economy Ministry calculates losses from weekend quarantine

Source : 112 Ukraine

According to the ministry, the GDP fall is expected within the predicted trends – 4.8-5%
21:20, 10 December 2020

www.obozrevatel.com

The fall of the GDP is expected within the predicted trends – 4.8-5 percent, and the weekend quarantine will not significantly influence the financial results of the year as the Ministry for Development of Economy, Trade and Agriculture of Ukraine reported.

“The GDP decline is expected within the predicted trends – 4.8-5.0%. Earlier unpredictable introduction of the weekend quarantine will not significantly influence the results of the years (according to the ministry, the losses make 0.04-0.06  per annum),” the document says.

According to the ministry, the coronacrisis hit small and medium-sized enterprises, without hitting the financial system; this allowed the Cabinet to avoid financial destabilization and continue the smooth operation of the banking sector.

Related: National Bank expects weak impact of lockdown on Ukrainian economy

The weekend quarantine acted in Ukraine from November 14 until November 30. Only the objects of the critical infrastructure worked during this time - particularly, groceries, drug stores and transport.

After three weeks of quarantine, the government made a decision not to extend the weekend quarantine. However, on December 9, the Cabinet of Ministers approved the introduction of lockdown in Ukraine from January 8 until January 25, 2021.

Besides, the Cabinet of Ministers extended the quarantine and emergency state in Ukraine until February 28, 2021.

 

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