12:18 15.06.2020

Ukraine's GDP could fall by up to 8% in 2020 – govt

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Ukraine's GDP could fall by up to 8% in 2020 – govt

The Cabinet of Ministers has said that a drop of Ukraine's GDP in 2020 could be up to 8% compared to 2019, according to the updated government action plan.

"Ukraine is traditionally more vulnerable to economic shocks, and therefore could feel a more significant impact: GDP may fall by 4-8% compared with 2019," the government said in the document posted on its website.

The macroeconomic forecast of the Ministry for Development of Economy, Trade and Agriculture, which is used for the 2020 national budget indicators, provides for the economy to fall by 4.8% this year, while the International Monetary Fund (IMF) expects GDP to plunge to 8.2%.

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