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Impact of coronavirus on economy of Ukraine to be minimal, - Minister of Economic Development

Source : 112 Ukraine

Tymofiy Milovanov said that external tourism in Ukraine is only 2% of GDP
17:00, 29 January 2020

112 Agency

The impact of the Wuhan coronavirus on the economy of Ukraine will be minimal due to the insignificant volume of external tourism in the country. Minister of Economic Development, Trade, and Agriculture Tymofiy Milovanov stated this at a briefing following a government meeting on January 29, Interfax reported.

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"Usually, the direct effect is reflected in tourism; tourism slows down. In this case, foreign tourism in Ukraine is small, it makes up only 2% of GDP," he said. Milovanov noted that carriers and tour operators working in foreign markets, in particular with China, would incur some costs associated with the evacuation of people, but in general, the impact will be minimal.

“For the time being, we are not forecasting a negative impact. In fact, seizing the opportunity, we removed several barriers to trade and exports to China, but this is not related to coronavirus,” the minister added.

As we reported, Ukraine is not ready enough for possible epidemics and pandemics, so it may have some problems with developing a plan of defense against possible coronavirus attack. According to the Global Health Security Index rating, Ukraine's readiness to fight epidemics was defined as "below average" (38 points out of 100).

Ukraine ranks 94th among 195 countries, along with the Dominican Republic, Zimbabwe, Nigeria, and Iran.

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