Ukraine's economy better prepared for crisis, its fall will be at level of other countries

13:05, 27.03.2020 1 min read

Ukraine's economy is better prepared for the crisis and its decline will be at the level of other countries, Deputy Governor of the National Bank of Ukraine (NBU) Dmytro Sologub has said.

"Even if we see a crisis situation, it will not be much worse than in other countries," Sologub said during an online press briefing in Kyiv.

He noted that following the global crisis of 2008-2009, the subsidence of the Ukrainian economy was much larger than that of neighboring countries. In 2009, Ukraine's GDP fell by 15%, while Poland showed positive growth dynamics, while the EU countries showed a decrease of 3%.

"Now, in cooperation with the IMF, we do not see such catastrophic scenarios when Ukraine will be much worse than others," Sologub added.

He specified that the NBU is working with the government to forecast the macroeconomic situation, although it is difficult to make forecasts in this situation.