Ukraine's GDP falls by 0.7% in last quarter of 2020

Source : 112 Ukraine

Compared to the third quarter of 2020, the country's real GDP increased by 0.8% during that period
19:39, 15 February 2021

The real GDP of Ukraine in the fourth quarter of 2020 decreased by 0.7%, compared to the same period in 2019. This was reported by the State Statistics Service.

Comparing to the third quarter of 2020, the country's real GDP increased by 0.8% (in the fourth quarter), taking into account the seasonal factor.

It is worth noting that Ukraine's GDP dropped by 4.4% in 2020 due to the Covid-19 pandemic and following economic factors.

Related: Ukraine has to pay $5.8 billion in foreign debt by end of this year

As we reported earlier, IMF Resident Representative in Ukraine Gösta Ljungman reported that the International Monetary Fund's (IMF) mission had completed its work in Ukraine.

Nevertheless, the decision to review the stand-by program has not yet been made.

"The discussion was productive, but more progress is needed in favor of completing the first revision of the program. The discussions will continue," Ljungman said.

The discussions were focused on strengthening the governance of the National Bank; improving the legislative and regulatory framework for banking supervision and financial recovery, and other issues.

Related: EU sets conditions for providing Ukraine with second tranche of financial assistance

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