PM Shmygal predicts Ukraine's economic decline by almost 5% by end of 2020
Prime Minister Denys Shmygal predicts that Ukraine's GDP will fall by 4.8% by the end of 2020.
Censor.NET reports citing Interfax.
"When we did not anticipate the coronavirus epidemic, the optimistic forecast predicted 3.7 (percent growth rate – 112 International.). Now it is minus 4.8," Shmygal said.
According to the prime minister, this is the calculation on which the Cabinet based the state budget, and it cannot be called neither optimistic nor pessimistic. Such a macro forecast is agreed by all Ukrainian institutions, organizations and economists.
"New figures on the Cabinet session have been approved. During the preparation of a new forecast, specialists of the Ministry of Economy conducted consultations with experts of the Finance Ministry, National Bank, the IMF and independent analytical organizations. Perhaps, we're not fine with all figures, but we expect an improvement of the economic situation in the second half-year period," Prime Minister of Ukraine stated.
