Ukraine's GDP falls by 5.2% in 10 months, - Economy Ministry

Source : 112 Ukraine

In 2020, the country’s GDP is expected to decline by 5%
19:45, 7 December 2020

Open source

Ministry of Economic Development, Trade, and Agriculture of Ukraine estimates the decline in the country’s GDP over the last 10 months of 2020 at 5.2%. This was announced by Economy Minister Ihor Petrashko during the Ukrainian Investment Roadshow online forum, Interfax reports.

The Ministry predicts that by the end of the year Ukraine's GDP will decrease by 5%.

"We think that the GDP will drop down by 5% in 2020, although we previously laid the following figure - 4.8%," the official stated.

Related: World Bank forecasts 5.5% drop in Ukraine's GDP in 2020

According to him, macroeconomic values will be affected not only by the ongoing pandemic but also by the situation in the agricultural sector.

As we reported earlier, the Ukrainian Finance Ministry has announced the successful completion of negotiations with the International Monetary Fund (IMF) on the state budget for 2021.

"The main focus of the talks was the formation of a common vision with the IMF of the main budget indicators - the framework of revenues, expenditures, and deficits," the statement said.

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

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